Foreign investments in Israel double in one year
2012-07-10 17:18:25
Foreign investments in Israel have doubled over the past year, according to a United Nations report published Monday.
In 2011, foreign investments (in Israel) stood at 11.7 billion U.S. dollars, a jump of 106 percent over the previous year, the UN 's World Investment Report said.
Meanwhile, global foreign direct investment (FDI) rose 16 percent from 1.3 trillion dollars in 2010 to 1.5 trillion dollars in 2011, according to the report -- excerpts of which appeared in the Globes business journal.
However, the UN Conference on Trade and Development predicts foreign direct investment in Israel will slow down in 2012, leveling off at 1.6 trillion dollars, due to economic uncertainty and the possibility of lower growth rates in major emerging markets.
In related news, Israeli investments abroad in 2011 came to some 3 billion dollars, at 6.6 percent of the gross capital creation.
In June of last year, the Israeli Knesset (parliament) passed a law encouraging capital investments, which will gradually cut corporate taxes by 2015.
Under the law, corporate taxes will gradually be lowered so that by 2015 companies located in the center of the country will pay 12 percent, while those located in priority outlying areas will pay six percent.
Ministry spokesmen had no comment on the report by now.