"Industry is the key component of the business sector, which is the key component of the economy. If there is one lesson we've learned in the past 50 years in the world, it's this lesson. Whoever forgot it and inflated the government, taxes, and expenses - a lot of countries fell. I have not forgotten, and if we erred, we corrected," said Prime Minister Benjamin Netanyahu at the Manufacturers Association of Israel conference at the David Intercontinental Hotel in Tel Aviv today. "The engine that pulls the other carriages of the economy is the private sector."
Netanyahu hinted that he supports the acquisition of Tnuva Food Industries Ltd. by China's Bright Food Group Ltd., saying that he accepts investment by Chinese companies in Israel. "We should allow foreign investors to come here," he said, adding, "Foreign investors are seeking three things in Israel: technology, technology, technology."
Netanyahu reiterated his promise to upgrade infrastructures and lower home prices. "Will have a railway line from Kiryat Shmona to Eilat, we'll have a superhighway from Kiryat Shmona to Eilat. This will develop the real estate market. We have a small country. We'll deploy fiber optics from Kiryat Shmona to Eilat, he said. "We're determined to reduce regulation. We have 200 regulators with thousands of rules, and each regulator only looks at his own sector. There is no calculation of the cost of a regulation, and all these things collide with each other. That is why we're trying to reduce regulation."
Published by Globes [online], Israel business news - www.globes-online.com - on February 27, 2014
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