Economy minister: Lenovo owner plans investment in Israel

Eli Cohen Photo: Dudi Vakhnin

"Both acquisitions of Israeli companies and a development or production center are under consideration."

Chinese company Legend Holdings, the controlling shareholder in computer manufacturer Lenovo, plans to invest in Israel and establish business in it. The company is considering acquisitions of local companies in the coming years and opening a development or production center, Minister of the Economy and Industry Eli Cohen said today.

Cohen stated that during a meeting with the leaders of the group in recent days, including the Lenovo founder, they expressed willingness to have close cooperation with Israeli companies in the context of Legend Holdings' investments. "We welcome any foreign investment in Israeli companies. At the same time, we emphasize investments that, beyond mere financial investments and investment in advanced local manufacturing, will boost the creation of good jobs in national priority areas," Cohen explained.

The Ministry of the Economy and Industry, however, could not at this stage estimate the extent of the Chinese group's future investment in Israel.

Cohen added, "Lenovo intends to invest and operate in Israel, combined with acquisitions of local companies, because Israel is a leader in technological innovation. We will give incentives to other multinationals that also conduct production and export business in Israel, in addition to R&D. The government assistance will be given to these companies through special grants designed to encourage investments in outlying areas."

Published by Globes [online], Israel Business News - www.globes-online.com - on August 14, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Eli Cohen Photo: Dudi Vakhnin
Eli Cohen Photo: Dudi Vakhnin
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