Netanyahu promises to support hi-tech industry
During hi-tech conference in Jerusalem prime minister says one mustn't remain aloof in face of competition with other economies; encourages development of biotechnology, brain research and alternative energy fields
"As a government we must act and allow our highly developed economy to take one step forward," Prime Minister Benjamin Netanyahu said Tuesday during a speech at the High-Tech Industry Association Conference in Jerusalem.
"The hi-tech field, as Israel's entire economy, is in competition with other economies and we must not remain aloof. A reform in the public system is vital, but sometimes it's important to carry out reforms in the private sector, as we have seen done at a time of crisis around the world."
Netanyahu addressed the Finance Ministry's plan to advance the hi-tech industry, which was presented by Finance Minister Yuval Steinitz, and outlined its main points. "We shall focus on returning young scientists from overseas, encouraging institutional investors to invest in the Startup industry and providing incentives for Israeli companies to stay in Israel," the prime minister said.
"Israel is a hi-tech power center but the time has come to also focus on other fields. The local hi-tech industry will explore the development of alternative energy technologies such as oil alternatives, bio-tech and brain research. We want to create an all-encompassing infrastructure which will include people, knowledge and money."
Netanyahu also revealed his plan to establish the "prime minister's entrepreneur of the year award" and noted, "we shall begin with an Israeli entrepreneur or inventor and will later open the competition for applicants from all over the world."
