Foreign investment in Israel at all-time high

According to the Bank of Israel, inward investment has tripled in three years.

Foreign investment in Israel reached an all-time high of $21.1 billion in 2006, up from $9.9 billion in 2005 and $7.2 billion in 2004, a three-fold increase, the Bank of Israel reported today.

Foreign investment in Tel Aviv Stock Exchange (TASE) securities fell by a net $143 million in 2006, after a record net $2.1 billion was invested in 2005. Net foreign investment in TASE-listed securities totaled $219 million in December 2006.

Foreign direct investment in Israel totaled $13.2 billion in 2006, including the acquisition of 80% of Iscar Ltd. by Berkshire Hathaway Inc. (NYSE:BRK-A; BRK-B), compared with $5.6 billion in 2005.

Overseas investment by Israelis also reached an all-time high of $21 billion in 2006, of which $12.3 billion was direct investment, five times more than in 2005. $5.7 billion was invested in foreign securities, and $3.4 billion was deposited in foreign banks. The bank deposits are used to finance current overseas activity and future transactions.

Published by Globes [online], Israel business news - www.globes.co.il - on January 8, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2006

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