Israel’s economy – pre 2019 General Election
Last week, I questioned if the Israeli economy truly needed another four years of a Netanyahu-style government. This comes on top of a warning from the Bank of Israel that growth is beginning to show signs of slowing down.
But not all is gloom and doom. Yesterday, I spent an exhilarating morning moderating a networking session between the Jerusalem Business Networking Forum and a delegation from Global New York. We were hosted by Biohouse, a brand new state-of-the-art hub for bio start ups in Jerusalem. The concept is so good that it is to be exported, first to Tel Aviv and shortly to New York.
This impressive centre is not all that is new in Jerusalem. For example, HIL Applied Medical Ltd. has signed an agreement to lease a 700 square-meter space from The Hebrew University of Jerusalem to set up a manufacturing centre. The total cost of the project will amount to approximately $5 million. And this is potentially dwarfed by the plans of Mapi Pharma, which intends to set up a facility to manufacture a drug to combat MS.
Elsewhere in Israel, the big chiefs of Citibank and Walmart have been visiting, and not just to look at the late winter storms. Skoda, owned by Volkswagen, is expanding its operations in the Holy Land. The Radicle Challenge is seeking to promote Israel’s resurgent agritech sector.
The thirst of American and European fund mangers to be a part of the start up nation does not seem to be ending anytime soon. The financial numbers are staggering.
I just these stunning macro figures would convert out more into the pockets of those millions not involved in the world of high-tech and innovation.