Steinitz: We'll see more global tech cos in Israel

"We're in contact with several multinationals to open development centers in Israel."

Minister of Finance Yuval Steinitz opened the Landmark Ventures Israel Dealmakers Summit today, saying that since he took up his post in the midst of the global crisis, the Ministry of Finance's policy has been to invest in the future in order to create a better present.

"In the midst of the crisis, we set a target of surviving the upheaval that the world was going through, as well as preserving all the good qualities we have in the Israeli economy, including in high tech. Looking back, I am satisfied. Economic growth in 2010 was the highest among developed countries, and the situation sometimes looks too good to be correct… but that's reality."

Steinitz added, "We created 120,000 new jobs in 2010, far above expectations, and we also lowered the debt-to-GDP ratio to 75%. While this is still high, it is lower than the level before the crisis."

As for high tech, Steinitz said, "The Ministry of Finance is in contact with several multinational companies to open development centers in Israel. These contacts are progressing toward fruition, and we will soon see in Israel representatives of more multinationals in Israel. The future of high tech is a national task of the government, and we invest and will invest in fostering this important industry. The appointment of Uri Shani, the CEO of NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE), as director general of the Ministry of Finance, also shows our willingness to act for the sake of the future of the industry that drives Israel's economy. In the planning of the companies tax, export-oriented companies will pay less tax."

Landmark Ventures Israel president Doron Birger said, "Israel is a nation of start-ups that develops entrepreneurship. The objective of this conference is to introduce Israeli entrepreneurs with executives from huge global companies." He added, "The conference in Tel Aviv follows directly from the opening of an office in Israel, and shows Landmark Ventures' commitment to Israel and the importance it attributes to the Israeli market, local companies, and the their need to break into international markets with a strong strategic partner."

Published by Globes [online], Israel business news - - on February 21, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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