Jerusalem, 19 March 2000

Industry Minister Cohen: Vision – $25,000 GDP per Capita within 10 Years

(Communicated by Ministry of Industry and Trade Spokesman)

Minister of Industry and Trade Ran Cohen at today’s cabinet meeting (Sunday) 19.3.2000, defined the Ministry’s vision for the coming decade, including raising Israel GDP per capita to $25,000 and reducing socio-economic gaps. The Ministry’s priorities are to increase economic growth and reduce unemployment. He briefed the cabinet on the Ministry’s aid for R&D, encouragement of capital investment, development of industrial parks and investment in human capital resources.

In order to achieve the Ministry’s targets, it will be necessary to take the following steps:

  • guarantee competitive conditions for high-tech industrial investment
  • improve competitiveness and prevent monopolies and cartels
  • a national investment of 3% of GDP in R&D
  • laws to encourage R&D and capital investment appropriate to the era of globalization and to improve the efficiency of investment in the economy
  • expand the productively active population
  • encourage private investment in the Arab sector, establish industrial parks and technology hot-houses
  • develop partnerships with trading blocs, penetrate new markets and work with international organizations
  • establish a biotechnology center
  • massive aid for peripheral areas
  • professional training for the ultra-orthodox community.