Oracle Corp. (Nasdaq: ORCL) intends to make further investments in Israel, said company president Safra Catz yesterday at a reception for investors, venture capitalists, and high-tech executives in Palo Alto, California. The event was also attended by Ministry of Finance director general Yarom Ariav.
Addressing the group, Catz said that Israel must be an active player in the global market, and export everything it produces, "even Prigat fruit juice."
Ariav told "Globes" that he saw himself as "a soldier of the State of Israel in Silicon Valley, the high-tech mecca, whose goal is to promote foreign investment in Israel and collaboration between Israeli and US companies." He added that the US technology community was aware of what was happening in Israel and the technological advantages it can offer, but that these investors still needed exposure to realities in Israel, and the constant stream of investment opportunities. Ariav said he heard from venture capitalists and other participants at the conference of the increasing interest that Silicon Valley is now taking in alternative energies, with more and more financial and human resources now being earmarked for it. According to him, the professionals he met at the conference expect Israel to take the lead in R&D into alternative energy.
Ariav will be meeting key figures in Hollywood tomorrow, including a producer from Warner Studios, and will offer them incentives to produce films in Israel, under the terms of proposals now being drawn up by a inter-ministerial committee in Jerusalem. Ariav will be asking producers how Israel can compete more effectively with other countries that have been hosting film productions for years. "We would like to join this club," he said.
Published by Globes [online], Israel business news - www.globes.co.il - on September 18, 2007
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