Middle East peace envoy Tony Blair has urged investors to donate money to the Palestinian economy and said that the West Bank is ready for business.

The former British prime minister made the plea during a visit to Abu Dhabi on Tuesday to discuss the latest developments of the Middle East peace process.

Blair said he was working to remove restrictions on movement that have squeezed the Palestinian economy.

Prime Minister Salam Fayyad has said the Palestinian economy could grow over 10 per cent in the next three years if Israel removes travel restrictions in the West Bank.

"You can do business in Palestine... It is true that the weight of the occupation is very heavy. We hope we can in the coming months start lifting the restrictions on access," Blair said.

The Palestinian government and the private sector are hosting a three-day conference from May 21 offering more than $1 billion worth of project to investors.

"What the Palestinian people need is support now. Support, of course politically, to get a just settlement for Palestine, but support also in how they build their state and secondly how they build their economy," Blair said.