Kahlon: Intel will shortly invest billions in Israel

Moshe Kahlon  photo: Globes TV
Moshe Kahlon photo: Globes TV

Intel says no large project is currently planned. Minister of Finance Moshe Kahlon was speaking at the Ecosystem Haifa conference.

Minister of Finance Moshe Kahlon spoke yesterday afternoon at the Ecosystem Haifa conference. Commenting on the publication of the police recommendation to indict Prime Minister Benjamin Netanyahu, Kahlon said, "I am confident in the integrity and professionalism of the Attorney General and the police - let them work without pressures so that we get the best outcome."

Kahlon went on to say, "Yesterday we talked with representatives of Intel at the Ministry of Finance. Intel will shortly invest billions of dollars in Israel. This is a decision we have worked on for a year and a half, and we were waiting for it. I met an Intel Inc. vice president when we began the discussions, and I'm happy that the decision has been made to invest in Israel.

"It's a compliment to the Israeli economy and broadcasts a positive message to the world about investment in Israel when Intel invests billions of dollars here and creates hundreds of high-quality jobs. The State of Israel will benefit from this investment."

In response, Intel said, "No comment." According to sources at Intel, no project of the order of size of billions of dollars is planned for the next two to three years. Intel recently completed the expansion of its plant at Kiryat Gat at a cost of $6 billion.

Or Shahaf, director of the Haifa Economic Corporation, announced the launch of a venture capital fund based in Haifa. "The response to the call for proposals to set up a NIS 100 million venture capital fund in Haifa that we published at the direction of the mayor has been unprecedented, and a venture fund will shortly be established in the city."

The Ecosytem Haifa conference is part of an effort by Erel Margalit's Yozma Leumit (“National Initiative”) organization, in collaboration with Haifa mayor Yona Yahav, aimed at turning the Lower City in Haifa into a focus of innovation and enterprise in digital healthcare.

Published by Globes [online], Israel business news - www.globes-online.com - on February 16, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Moshe Kahlon  photo: Globes TV
Moshe Kahlon photo: Globes TV
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