Israel Corp. chairman attacks Treasury policy

Israel Corp. chairman Idan Ofer has said that, "Officials in Israel are scared to help the business sector."

Speaking to "Globes" at the World Economic Forum in Davos Israel Corp. (TASE:ILCO) chairman Idan Ofer launched a scathing attack on Ministry of Finance policy.

He said, "Officials in Israel are scared to help the business sector. It is because of the atmosphere created by former Accountant General Yaron Zelika. We have no inter-action with government officials because fear has been generated. If you meet with an official, you are immediately looked upon as corrupt or corrupting and that's iditic."

He added, "If Tower Semiconductors has to close it will only be because of the State of Israel which did not stand by its commitment to invest in the company. It is very problematic that the government does not stand by its commitment (to put NIS 60 million into Tower)."

Ofer, who was in Davos, to promote Better Place said that electric vehicles were an established fact. Asked if the fall in oil prices would harm Better Place Ofer said, "even at $40 a barrel electric vehicles are cheaper to run per kilometer, but everybody knows that when the economic situation improves then the price of oil will rise."

Published by Globes [online], Israel business news - - on February 1, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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