Against the background of the Corona crisis, it was reported this morning that the Minister of Finance, Israel Katz, and the Minister of Economy and Industry, Amir Peretz, agreed on a NIS 1.1 billion incentive plan for investment and employment in the manufacturing and high-tech industries. Manufacturers Association.
The program includes budgets to encourage investment, R&D and innovation as well as opening markets with an emphasis on enterprises affected by the crisis and retaining a significant proportion of their workers, a budget for developing industrial zones and a budget to encourage employee absorption by collaborating with employers and training employers.
The ministries claim that they will work to produce a route free of bureaucracy that will allow for a quick allocation of funds to a plant that will meet the criteria. The plan requires government approval.
Minister of Finance, Israel Katz: “As part of the economic acceleration program, we agreed on an industry assistance program that combines investment encouragement and employment strengthening to strengthen the economy during this period. The program also includes assistance to employers who have chosen to retain their employees despite declining business turnover.” “Also investments and employment in the various industries. Now we have to show solidarity and help independent business owners and employees to get through the situation they are in.”
Minister of Economy and Industry, Amir Peretz: “The investment incentive program is a big line for employers and workers affected by the Corona crisis. In this program, for the first time, the fair employers who have chosen to retain their employees will be compensated despite a decline in their turnover. “Retaining workers is a solidarity act that the state values and compensates for. In addition, the program will invest in the development of industrial infrastructure, create employment routes for the absorption of workers in industry and high-tech and expand aid routes to successful high-tech companies affected by the Corona crisis.”
President of the Manufacturers’ Association, Dr. Ron Tomer: “The purpose of the joint program is to leverage the crisis in order to strengthen the competitiveness of Israeli industry and high-tech and to secure and create new jobs in productivity and high wages in industry. The program gives a very generous participation in the expenses of companies that have been harmed and not laid off workers and we are sure that this is a positive message from the government to the employer public. I would like to thank the Minister of Finance and the Minister of Economy and Industry and the professional teams from the government and the association for their professional and speedy cooperation. ”
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