In early June 2010, the city of Bethlehem hosted the second PalestineInvestment Conference (PIC), under the auspices of H.E. President Mahmoud Abbas. The two day event brought together nearly 2,000 local and international business people, government representatives and donor agencies to discuss the potential of the Palestinian economy and unlock promising investment opportunities in Palestine.
The Facility for New Market Development featured prominently at the event. Announced at the first PIC in 2008 and inaugurated by British Prime Minister Gordon Brown and Palestinian Prime Minister Salam Fayyad in July 2008, FNMD has since recruited an impressive portfolio of 198 companies in the West Bank and Gaza, from a wide range of sectors including manufacturing, agribusiness, stone and marble, ICT, services, and tourism, as well as pharmaceuticals, media, and handicrafts.

Building on FNMD support, a number of FNMD client companies prepared business plans to attract investors to take their businesses to the next level. More than 40 client companies from West Bank, East Jerusalem and Gaza participated in the exhibition “Best of Palestine” that ran alongside the conference. Many of the products showcased at the exhibition were developed or improved with FNMD support, such as the recently certified Organic and Fair Trade olive oil of Al’Ard company; specialty welding arches of Al Sharq company; the new range of decorative paints developed by Shalhoub and the stylish new furniture manufactured by White Palace.  
FNMD Gaza Manager Sharif Kishawi is particularly proud of the strong participation of FNMD’s Gaza clients. Despite the severe movement and access restrictions and the tragic current events that overshadowed the PIC, the Gaza business people decided to be a part of PIC. Those business people that could not secure permits to travel to the West Bank hired consultants, with FNMD support, to represent their companies at the event. Almost all Gaza companies had to rely on large television screens to showcase their products, unable to bring actual samples through the checkpoints.  
Representatives of FNMD’s funding agencies, including Helen Winterton, Head of DFID Jerusalem and Mariam Sherman, World Bank Country Director, took the opportunity to meet FNMD client companies and learn first-hand how FNMD has helped to make a difference to these businesses.  Members of the FNMD team from the Ramallah and Gaza offices assisted at the UK booth to give detailed information to visitors on FNMD support mechanism and results achieved so far.
“We are proud of the achievements of our client companies and hope that they will succeed in attracting new trade and investment partners that believe in their business, much like FNMD has done,” says FNMD Deputy TL Verena Oberrauch.
FNMD is a 3 year grant scheme funded by DFID and the World Bank to help Palestinian enterprises enter new markets and develop new products. For more information, please see www.fnmd.ps

June 6, 2010.