Jerusalem, 21 July 1998

NATIONAL PROJECTS TO BE OFFERED TO FOREIGN INVESTORS

(Communicated by Jubilee Business Summit Spokeswoman)

At the Jubilee Business Summit steering committee yesterday evening

(Monday), 20.7.98, attended by Prime Minister’s Office Director General Moshe Leon, it was announced that government ministries are readying national projects to be proposed for investment by foreign businessmen arriving for the Jubilee Business Summit.

Among the project proposals from the ministries are: natural gas and refineries (National Infrastructure Ministry); the privatization of Haifa Municipal Airport and Jaffa Port facilities, a mass-transit system for Jerusalem and opening public transport to competition (Transportation Ministry); the establishment of a venture capital fund for alternative energy, an energy-producing waste incinerator, cleaning up the Hiriya waste dump and environs; the Dead Sea Park project and privatizing river clean-up operations (Environment Ministry). The Ministry of Industry and Trade has proposed the establishment of a venture capital fund for promoting biotechnology projects.

Approximately 2,500 leading businessmen and representatives from multinational corporations from Israel and abroad are expected to attend the summit.

Following a visit to France by Communications Minister Limor Livnat, it was agreed that major French corporations, banking and investment firms will be attending the summit. Minister Livnat emphasized that as a closed market, Israel is an attractive objective for investment, especially given the country’s relatively large consumption in comparison to its population and its economic potential as a regional center for the Middle East. The French government’s director of industry, Didier Lombard, told the minister that the Jubilee Business Summit would be a means to expand and intensify Franco-Israeli cooperation and that he would act to bring French businessmen and companies that had previously boycotted Israel due to the Arab boycott.