Calls for the immediate cessation of grants and benefits to factories in
mass serial production - "it doesn't stand a chance"
The Investment Center has decided to use the investment plan Intel
presents, for the construction of a factory at a $1.6 billion
investment, as a test case for re-examining criteria for the approval of
investment plans. They will be evaluated from the perspective of their
contribution to the national economy. This according to Moshe Dovrat,
Director of the Investment Center.
According to him, "Until now, investments of this sort, involving
foreign investors, were examined only from the perspective of the amount
of foreign currency they brought to the economy. This time we will
examine the investment without considering whether it is foreign
currency. The important consideration will be its contribution to
growth in the economy. A representative of the State Comptroller's
Office already said to me 'I want to see if the deal is feasible or not.
I am sure it won't be".
According to Dovrat, we must immediately cease awarding grants and
benefits to factories producing in mass serial production. "This
doesn't stand a chance in this country", he said. We must find a new
cash cow to replace the security industries, such as the
micro-electronic industry in which Intel is involved. That is the State
of Israel's best answer in order to become a leader in world
industry".