He met Tuesday with Jordan's King Abdullah II at the White House, and will meet Friday with Netanyahu.
CNN: Obama announces 'new chapter' in U.S. Mideast diplomacy
But from the start of his reign in February 1999, King Abdullah II has enacted much-needed economic reforms.
Speaking to reporters after talks with King Abdullah II, Mr Obama said there was "profound cynicism" surrounding the peace process.
Jordan's King Abdullah II decided not to attend the summit a few hours before it opened, without giving a reason.
King Abdullah II has begun some economic reform, including partial privatization of some state-owned firms, which has begun to show results.
She first entered the international spotlight 15 years ago after marrying Abdullah II bin al-Hussein, the then future king of Jordan.
He said the invitations had been extended after Mr Obama met Jordan's King Abdullah II at the White House on Tuesday.
In Amman, Jordan, King Abdullah II voiced his skepticism about the U.S. peace conference in a meeting with Mideast envoy Tony Blair.
His comments contrasted with those of Jordan's King Abdullah II, who said Friday that al-Assad is not likely to fall for months.
CNN: Al-Assad's grip on power "slipping away," Medvedev says
Jordan's King Abdullah II said the publication of such images is a "crime that that cannot be justified under freedom of expression, " Petra reported.
Meanwhile, Saddam's two eldest daughters -- Rana and Raghad -- have found sanctuary in Amman, Jordan, where they are guests of King Abdullah II.
Rice, who won public backing for the conference from Egypt during a Tuesday stop in Cairo, was in London on Thursday to lobby for backing from Jordan's King Abdullah II.
Jordan's King Abdullah II, one of the first Arab leaders to call for al-Assad to step down, told CNN that he didn't think the attack means the regime is about to crumble.
But just around the time that Clinton was making this statement, Jordan's King Abdullah II was telling The Washington Post that he is satisfied with the Netanyahu government's position on the Palestinians.
The President spoke with President Karzai of Afghanistan, Prime Minister, Monti of Italy, King Abdullah II of Jordan, Emir Hamad bin Khalifa Al Thani of Qatar, President Putin of Russia, and President Rajoy of Spain.
For the first time in the kingdom's history, the newly formed Independent Elections Commission will oversee elections as part of reforms designed to make the country more democratic, according to Petra and King Abdullah II.
Top politicians are also attending, among them the boss of the World Trade Organisation, Supachai Panitchpakdi, presidents Vicente Fox of Mexico and Johannes Rau of Germany, King Abdullah II of Jordan and Malaysian Prime Minister Mahathir Mohamad.
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