Jerusalem, 21 May 1998

THE PRIME MINISTER’S JUBILEE BUSINESS SUMMIT – UPDATE

General Background

The Prime Minister’s Jubilee Business Summit, in recognition of the achievements of Israel in 50 years of existence, provides a unique opportunity to introduce Israel to international business leaders who are not yet acquainted with the Israeli economy, and present to them its vast business opportunities, together with the multinational companies who have already invested in Israel.

Israel is undergoing a tremendous change in its approach to the international business community. It is an excellent opportunity to learn about Israel’s relative advantages in the fields of research and developnment technology, economic reforms, privatization of government dominated companies and services, deregulation and the wealth of business opportunities in this growing economy.

Projects in the sum of more than 50 billion dollars are planned for international tenders in the coming 10 years. Israel invites international companies to take a leading role in the renovation and construction of its infrastructure development in the fields of energy, telecommunications, sewage and wastewater treatment, transportation, utilities and regional development.

In this conference you can witness both the challenge and opportunity of the new Israel. We look upon the private sector to be the engine of growth in the new competitive climate that we are creating in the Israeli economy. This is the time to join us.

Dates

Opening ceremony: Evening of Tuesday, October 13, 1998. Conference days: Wednesday to Thursday, October 14 – 15, 1998. Closing ceremony: Salute to Israel’s Business Partners, October 15 1998. Excursion day: Friday, October 16, 1998 (half day).

Venue

The International Conference Center, Jerusalem.

Participants

Leaders of multinational companies, who invested significantly in Israel, will be coming to the conference to receive the Prime Minister’s Jubilee Medal.

1,000 overseas business people, political leaders and ministers from all over the world will lead business delegations from their countries. Heads of multinational companies from around the world, direct investors, investment bankers, fund managers, lawyers and accountants and of course, 1,500 leading business people from Israel together with Israel’s Economic Ministers and heads of state-owned companies.

Guests of Honor

Dignitaries will be invited, together with finance ministers from states that have extensive economic activities with Israel. These guests of honor will head their country business delegations to the summit.

The Business Summit Format

The business summit will include plenary discussion sessions, panels and professional discussion groups. There will be an evening opening ceremony, a gala dinner where citations will be awarded, breakfasts, lunches, and cocktail parties with the participation of guest speakers.

The central theme will be integrated into different areas as detailed below and there will be additional subjects to be formulated in cooperation with the appropriate ministries and economic organizations.

A "government center" will be established at the Business Summit, in which offices will be set up for the Prime Minister and other ministers where business meetings will be held with participants at the Business Summit. This will ensure that all the events are concentrated in one place, and will greatly enhance the business dynamics of the Business Summit and guarantee maximum attendance. The members of the executive committee will coordinate meetings with the various ministries.

Professional tours linked to the themes discussed will take place on Friday, October 16, 1998. Optional tourist tours will be provided for the 16th – 17th October.

The Business Summit will be accompanied by a select exhibition. Some of the displays from the exhibition of Israel’s achievement, which will take place in August, will be included. All the national projects approved by the Israeli government, and offered for international tenders, will be represented. A display relating to state-owned companies designated for privatization may also included.

Themes/Sectors/Tracks

The central motif will be: "Israel – The Promised Land of Business Opportunity"

1. Industry and the community – closing the gaps, technological

education 2. Science and technology – relations between industry and academe 3. Opening up the economy – privatization, deregulation,

liberalization 4. Venture capital for high-tech/start-ups 5. Regional cooperation – production, R&D 6. The Internet 7. Agrotechnology 8. Biotechnology 9. Telecommunications and teleprocessing 10. Energy 11. Water and the environment 12. Engineering, construction and real estate development 13. Financial services – banks, insurance, investment banks, lawyers

and accountants 14. Tourism 15. Transportation 16. Consumer goods 17. The Defense Industries 18. Agriculture 19. Media

Send questions and comments to: pmsummit@pmo.gov.il