Israel's finance minister meets global companies in Paris, seeks to increase investments in Israel

Israeli Finance Minister Bezalel Smotrich held meetings on Tuesday with representatives of French and other global companies in Paris to enhance foreign investments in the Jewish state and increase competition. The initiative is reportedly part of an effort to address the high costs of living in Israeli society.

“The State of Israel is an island of stability in the turbulent global economy. Its economic strength, the correct processes it goes through, and its amazing development are for nothing in the world and generate many demands from companies and financial institutions to enter and integrate into the Israeli market,” said Smotrich.

The finance minister further stressed his commitment to strengthen the Israeli economy and make it attractive to foreign investors.

“As finance minister, I am committed to doing everything in order to further boost Israel's economy. And we are definitely working on it everywhere and with all our might. The emphasis in the near future will be on the removal of regulatory trade barriers and the promotion of a free and competitive market and the acceleration of infrastructure projects in huge sums that will be engines of growth.”

Israeli and international investors have increasingly shared concerns regarding the Netanyahu-led government’s judicial reform agenda.

Critics argue that it could potentially undermine an independent judiciary and thereby make Israel less attractive for foreign investments.

In April, the international credit agency Moody’s downgraded Israel’s credit outlook, warning that the judicial reforms could weaken fundamental institutions in the Jewish state.