Palestinian leaders have dismissed a US plan for investment in the Middle East as an attempt to buy off their hopes for independence.

Palestinian President Mahmoud Abbas said there has to be a political solution to the Middle East before an economic one.  

The plan, which is to be presented by President Donald Trump's son-in-law Jared Kushner in Bahrain next week, calls for the creation of a $50 billion 10-year international investment fund to reform the Palestinian and neighbouring Arab economies. 

But the lack of a political solution, which Washington has said would be unveiled later, prompted rejection of the plan not only by Palestinians but also some Arab countries.

From Sudan to Kuwait, prominent commentators and ordinary citizens denounced Mr Kushner's proposals in strikingly similar terms: "colossal waste of time," "non-starter," and "dead on arrival."

"Homelands cannot be sold, even for all the money in the world," Egyptian analyst Gamal Fahmy said.

"This plan is the brainchild of real estate brokers, not politicians. Even Arab states that are described as moderate are not able to openly express support for it."

Commentator Sarkis Naoum at Lebanon's An-Nahar newspaper said, "This economic plan, like others, won't succeed because it has no political foundation."

While the precise outline of the political plan has been shrouded with secrecy, officials briefed on it say Mr Kushner has jettisoned the two-state solution - the long-standing worldwide formula that envisages an independent Palestinian state alongside Israel in the West Bank, East Jerusalem and Gaza.