During a meeting with US businessmen in New York on Sunday, Minister of Industry, Trade and Labor Benjamin Ben-Eliezer called for them to invest in Israel. "We must turn the crisis into an opportunity, and I tell you explicitly - this is the time to come and invest in Israel. Although it is the economy of a small country, it is a stable economy with high potential, and an intense unceasing desire by its people to break records of innovation through collaborations with foreign companies," he said.
Ben-Eliezer added, "We're now a year after the economic crisis that struck the world, including Israel. Nonetheless, thanks to Israel's stable economy and banking system, and conservative regulations, the damage to Israel was kept to a minimum. I am nevertheless bothered by the employment situation and the massive layoffs, as well as the weakening of the dollar against the shekel, which undoubtedly worries you too."
Ben-Eliezer continued, "Today, it is possible to manufacture everything in China, except for one item: brains. Israeli brains and R&D capabilities are world leaders, especially in biotechnology, nanotechnology, renewable energy, and water technologies. The Industry Ministry has a number of tools to encourage R&D, including bilateral agreements with other countries, regions, and companies."
Today, Ben-Eliezer will ring the closing bell on the New York Stock Exchange and Nasdaq. Tomorrow, he is scheduled to meet New York Governor David Paterson to sign an R&D cooperation agreement between Israel and New York State.
Published by Globes [online], Israel business news - www.globes-online.com - on September 14, 2009
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