The Ministry of Industry, Trade and Labor today launched Israel NEWTech - Novel Efficient Water Technologies, the government program promoting the Israeli Water Technologies at the International Water Technologies and Environmental Control Exhibition and Conference - Watec 2007.
Israel NEWTech will server as an umbrella organization for all Israeli entities operating overseas, enabling them to benefit from the industry's excellent and continuously growing reputation. NEWtech coordinates the activities of ten government agencies, academic institutions, and additional authorities. The program closely cooperates with the Israeli water industry and the different water sectors, including irrigation, sewage treatment, recycled treated wastewater, desalination, water monitoring and security, water planning, consultation, and construction of water infrastructure projects.
The government approved Israel NEWTech in June with the goal of doubling the export of Israeli water technologies to $2 billion by 2010. In order to meet this goal, the government is encouraging foreign investments in this area and spearheading efforts to expand R&D, particularly through international cooperation initiatives.
Israel NEWTech director Oded Distel predicts that water industry exports will grow 28% in 2007. He said that this unprecedented growth rate for the industry reflects the potential of the Israeli water technology, which will become the Israeli market's main growth engine in the coming years.
Published by Globes [online], Israel business news - www.globes.co.il - on October 30, 2007
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