Israeli Technology & Development: Two New Moves Encourage Foreign Investment

PeresAbbas

Two big pieces of news this week in Israel innovation and technological development:

  1. The signing of a formal agreement between Israel and Palestine to create a joint industrial zone in the West Bank
  2. The European Union’s granting Israel entrance into the Competitiveness and Innovation Program, which promotes enterprise and industry

Let’s take a look at what this means.

Israel and Palestine Create Joint Industrial Zone

Israel and Palestinian Presidents Shimon Peres and Mahmoud Abbas signed a formal agreement in Turkey today that will create a joint industrial zone in the West Bank.

The agreement calls for the creation of 200 factories to be built, providing jobs for Palestinians and attracting investment to the region.

Its efforts are part of an “industry for peace” initiative that was first introduced in the 2005 Anakara Forum.

The establishment of a joint industrial zone was one of the steps articulated in Prime Minister Ariel Sharon’s Four Step Disengagement Plan of 2004.

President Shimon Peres has long been committed to future of scientific development and innovation in Israel. Read his opening address to this year’s Knesset to find out more.

Israel Joins EU’s Competitiveness and Innovation Program

EuropeanUnion

Israel’s appointment last week into the EU’s Competitiveness and Innovation program marks the first admission of any non-European country into the project.

The program will focus on entrepreneurship, business innovation, and promoting foreign networking for economic cooperation.

EU Vice President Gunter Verheugen remarked:

“The aim of the forum is to make sure that business from Israel can move freely into the European market. The dialogue shall also encourage European companies to do more business with Israel. Israel is strong with a booming economy and spreading confidence in investment in Israel is something, which will help overcome political tensions often seen as an obstacle for foreign investors.”

Israel is represented by a powerhouse team composed of 9 members, including:

(More information on team members or their profiles would be very much appreciated. Please comment or e-mail me at mnorton [at] TheNewJew.org.)

Credit

Title photo’s source, EU flag’s source.

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2 Responses to Israeli Technology & Development: Two New Moves Encourage Foreign Investment

  1. Would like to find out more about Israeli’s investment incentives being marketed to those with Israel connections.

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