Israeli Finance Minister Moshe Kahlon is determined to lower apartment prices by bringing foreign construction companies to build in Israel. He plans issuing a call for proposals for foreign companies to come to Israel, which will be discussed by the housing cabinet tomorrow. In the first stage, Kahlon want to bring six construction companies to Israel that would be allowed to employ 6,000 foreign workers.
The Ministry of Finance said, "As part of the many measures being led by Minister of Finance Moshe Kahlon to benefit the increased housing supply for young couples and those not owning a home, he is issuing a call to foreign construction companies to operate to implement projects in Israel. The involvement of the foreign companies in Israeli construction is part of the cabinet decision to bring foreign workers to speed up and promote construction in Israel."
The plan is to set up a pool of companies that will operate over five years and which will include six foreign construction companies that will be selected in a call for proposals process. The chosen companies will have major experience in residential construction. Each company will be allocated visas for up to 1,000 foreign employees for wet work only in building homes. Each foreign company will be allowed to cooperate with Israeli contractors.
The Ministry of Finance expects the plan to raise building productivity and standards in Israel with the foreign companies introducing advanced technological methods and greater efficiency.
Published by Globes [online], Israel business news - www.globes-online.com - on March 6, 2016
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