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Hi-tech giants and investors defy media’s misrepresentation of Israel

1. “Israelis are more satisfied with their lives than the OECD average,” according to the OECD’s (Organization for Economic Cooperation and Development) annual “Better Life Index.”  Only Denmark, Iceland, Switzerland and Finland ranked ahead of 5th place Israel, among the 34 OECD members, as well as Brazil and Russia.  The rating is based on 22 variables, such as education, health, life expectancy, average income, housing and general satisfaction. Israel’s high ranking defies its geo-political neighborhood, but is a derivative of its inherent state of mind: optimism, patriotism, family and communal responsibility and attachment to roots (Israel 21st Century, June 10, 2015).

2. “Israel was rated by expats as the most dynamic country in the world,” according to “InterNations,” the largest network for people who work and live abroad (The Huffington Report, June 12, 2015).

3. The June 15, 2015 issue of the Economist Intelligence Unit praises Israel’s economic performance, expecting a 3.4% growth in 2015 and rising in 2016, declining unemployment [currently at 5%], steady inflation (1.3%), an export surge in 2015, a narrowing 2015 trade deficit and a 2019 trade surplus, larger natural gas production/export, robust private consumption and expanding current account surplus (3% of GDP in 2014, 5.2% – 2015 and 7.4% -2019).

4. The London and China-based $3bn private equity fund, XIO, acquired Israel’s bio-med company, Lumenis, for $510mn (Globes, June 19, 2015). The Chinese investment giant, Fuson Group – which recently acquired Israel’s Alma Lazarus for $240mn – is acquiring a controlling interest (52%) in Israel’s insurance and investment group, Phoenix, for $470mn (Globes, June 22). On June 23, the Economist Intelligence Unit reported that these acquisitions followed in the footsteps of China’s Bright Food acquiring Israel’s Tnuva, the Shanghai International Port Group winning a tender to operate Haifa’s new port, the China Harbor Engineering winning the tender to build Ashdod’s new port, and a joint venture between the China Railway Group and Israel’s Solel Boneh winning an $800mn contract to develop the first segment of Tel Aviv’s light rail network. Also, the value of high tech start up financing rounds, involving Chinese investors, tripled to $302mn during 2012-2014 and reached $117mn during the first four month of 2015.

5. Google’s CEO, Eric Schmidt, praised Israel’s technological initiative and creativity, stating that the Jewish State is second only to Silicon Valley when it comes to startups (Bloomberg, June 9). Schmidt participated through is private equity fund, Innovation Endeavors, in a $15mn private placement in Israel’s Yotpo. He was joined by Bloomberg Capital, Vintage Investment Partners, etc. (Globes, June 24). The US venture capital fund, Formation 8, joined by Samsung’s and Qualcomm’s VC funds, invested $10mn in Israel’s Mantis Vision (Globes, June 5).

6. US giant, Computer Associates’ (CA) 12th Israeli acquisition: IdmLogic for $20mn (Globes, June 9). British giant, Johnson Matthey Investments acquired Israel’s StePac for $27mn (Globes, June 5).

7. Israel’s SolarEdge raised $126mn on Wall Street. The total raised by Israeli companies during the first quarter of 2015 was $1.5bn, compared to $3.9bn during all of 2014 (Globes, March 30). The Silicon Valley Khosla Ventures, Bloomberg Capital and NyCa Investment Partners participated in a $40mn round by Israel’s FundBox (The Marker, March 30). KKR’s first investment in Israel: leading a $35mn round by Israel’s ClickTale, joined by Europe’s Amadeus Capital, Goldrock and Viola Credit (Globes, January 29). Israel’s BioLine raised $25mn on NASDAQ (Globes, March 9). Fidelity Growth Partners led a $20mn round by Israel’s AppsFlyer (Globes, January 21).

8. Lockheed-Martin, EMC, IBM, Oracle, eBay and Deutsche Telekom (the latter teamed up with Ben Gurion University) operate in the newly established cyber technology park in Beer Sheba, Israel (Wall Street Journal, June 5). Israel accounted for 10% ($6bn) of global cyber tech sales in 2014. Eight cyber Israeli companies were acquired for $700mn in 2014. The number of Israeli cyber companies doubled during the past five years (i24 News, May 26).

9. Israel and Italy established joint R&D labs, in Israel, in the areas of neurology, solar, outer space, cyber, water treatment and health sciences (Globes, March 3).

10. Britain’s Secretary of State for Business and Innovations, Sajid Javid stated: “The past few years have been a golden era for Anglo-Israel business… expecting bilateral trade, currently valued at $6.9bnm to continue growing…. (Algemeiner, June 9, 2015).”




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Straight from the Jerusalem Boardroom #248
https://bit.ly/3u29k9g

Foreign investment in Israel’s high-tech companies surged to new heights in the 1st quarter of 2021 – $5.7bn in 172 deals – which is up 89% over the impressive 4th quarter of 2020 and double the volume of the 1st quarter of 2020.

2020 was the first year of surpassing $10bn in capital raised by the Israeli high-tech sector from investors in the US, Asia and Europe, who trust the maturity of Israel’s brain power. Investments in Israeli companies more than tripled in six years, reflecting the effective response by Israeli startups to the technological, medical, pharmaceutical, educational, social and digital challenges posed by Covid-19.

Israel’s economic performance in defiance of Covid-19 is presented by Dr. Adam Reuter, the Chairman and Founder of “Financial Immunities,” Israel’s largest financial-risk management firm, and the co-author of Israel – Island of Success:

  1. Israel has led the globe in the rapid administration of Covid-19 vaccinations due to effective negotiations with Pfizer and an efficient, country-wide medical infrastructure.
  2. Israel is the second lowest among OECD countries in the number of Covid-19 deaths per number of Covid-19 cases: 0.7% compared to the 2.3% OECD average. Israel features a young population (median age of 30 compared to the OECD’s 42) and an effective country-wide medical infrastructure, including top level HMOs and hospitals.
  3. Israel is ranked 12th from the bottom among the 37 OECD countries in the number of deaths per million inhabitants: 645 compared to 1,145 OECD average.
  4. The International Monetary Fund’s 2025 GDP growth forecast for OECD countries: Israel – 4%, OECD average – 2.2%, US – 1.8%, Australia – 2.5%, Ireland – 2.6%, France and Canada – 1.7%, the UK – 1.6%, Germany – 1.2%, etc.
  5. Israel’s 2020 GDP was reduced by 2.5%, compared to the OECD average reduction of 4.1%, South Korea – 1%, Norway – 0.8%, Australia – 2.6%, US – 3.5%, Japan – 4.8%, Germany – 5%, France – 8%, the UK – 10% reduction, etc. GDP growth was recorded in New Zealand – 2.4% and Ireland – 3.5%.
  6. In 2020, Israel was ranked 20th among the 37 members of the OECD in terms of GDP per capita, featuring $43,000 (GDP – $408bn), ahead of Japan, Italy and Spain, and very close behind the UK ($44,000) and France ($45,000).
  7. Israel’s debt-to-GDP ratio increased from 60% in 2019 to 72% in 2020, compared to the OECD’s average increase from 66% to 82%. The 2020’s debt-to-GDP ratio was 266% in Japan, Italy – 161%, the US – 131%, Germany – 73%, etc.
  8. Israel’s foreign exchange reserves-to-GDP ratio of 41% (3rd among the OECD countries) attests to its financial stability, and Israel’s capability to raise foreign credit promptly in a cost-effective manner. Israel’s foreign exchange reserves in March 2021 – $186bn.
  9. During the past decade, Standard and Poor (S&P) accorded Israel a positive credit rating trend, unlike the negative trend for the G-7 countries. In 2020, notwithstanding Covid-19, Israel’s credit rating (S&P) remained at AA.
  10. Some 380 global high-tech giants operate in Israel, including Microsoft, Amazon, IBM, Intel, Cisco, Apple, Verizon, Applied Materials, Dell, HP, Kodak, Oracle, Philips, SAP, Medtronics, GM, eBay, GE, etc. Israel leads the world in the ratio of research and development investment to GDP: 4.9%. 85% of this investment comes from the business sector.

 




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