Hi! Sign in or Registration
Looking for Investors
Israeli Companies Map
Made in Israel Online Exhibition
Israel accepted into OECD
Author  Zvi Lavi

 

Israel accepted into OECD

Finance minister says new membership is 'stamp of approval', will attract foreign investments

Zvi Lavi

 

Published: 

05.10.10, 13:16 / Israel Business

 

 

 

The Organization for Economic Development and Cooperation (OECD) accepted Israel into its ranks Monday during a vote, as its 32nd member.

Finance Minister Yuval Steinitz, currently in China, received an unofficial message from the organization, and an official statement will be made in Paris in the afternoon.

The official invitation is to be handed to Steinitz at a convention of the OECD's finance ministers in Paris at the end of the month. Slovenia and Estonia were also accepted as members Monday.

"The significance of this is huge and that is why, as a matter of fact, I decided to treat it as a top priority 10 months ago and enter into a special program to introduce Israel into the organization at a peak time," Steinitz told Israel Radio.

"It is the most respectable international club a small state like Israel can be accepted into," he added. "From what we know about other states, in the years following the acceptance there is a rise of billions of dollars in foreign investments in the state accepted."

Steinitz said Israel was being accepted into the club responsible for dictating the world's financial guidelines. "There is also a political gain here. We are receiving a stamp of approval… that Israel belongs to the world's most advanced and developed countries, and not just financially – in civil rights, a clean and independent court system, regulations, equality, and steps to eliminate discrimination," he said.

 

Manufacturers Association President Shraga Brosh issued a pleased response saying that "Israel's membership with the organization constitutes a label of quality."

Treasury chief Haim Shani said, "The joining of Israel to the organization points to the trust companies have in Israel's economy and solidity. I believe the new membership will help Israel's society and economy progress, attract foreign investors, and develop the market."

More Articles of Internet
Wanted: Arts majors for high-tech
Wanted: Arts majors for high-techFrom GlobsTechnology companies are looking for creativity, flexibility, and the ability to think outside the box.The average profile for a high-tech worker generally includes an education in systems engineering, computer engineering, or programming. However, in recent years, along with the blossoming of start-ups, many companies are turning to completely different fields to recruit workers. They are looking for creativity, flexibility, and the ability to think outside the box - attributes that are not necessarily typical of math and engineering graduates.This trend, which characterizes high-tech and start-up companies, reflects a broader trend: companies are increasingly seeking to hire workers who are not conventional fits for the traditional requirements, so they can contribute to intellectual diversity, and help them to see things a little differently.Shai Ozon, CEO of One1 Group, which employs 3,000 workers in IT, is a strong advocate of hiring management talents from different fields. “The idea is to bolster the management layer with people who come from different disciplines, and to diversify the style of management,” he says. “The reason is that we are in an industry that is constantly changing: the technology changes, the customers come from a wide variety for fields, and we are looking for people who will be able to speak in diverse languages, and not necessarily understand the intricate details of the product we are selling, but more relationship management and sales processes. We can teach them about the product.”Are there problems with today’s training?“Apple’s success did not stem from the fact that their computers were better than IBMs, rather from the synthesis of disciplines. For example, once, the role of information systems was to make sure the computer would work. Today, it is to give the business a competitive edge. It is not enough to speak the old language of technology; you need a broader business vision.”What characteristics are you looking for in employees?The people I am looking for may have backgrounds in law, industry and management, and as far as I'm concerned even art. The important thing is that they have some life experience. They first undergo an internship, for about a year and a half, in three levels of specialization: professional training in IT, management coaching, and in organizational culture the company’s business language. Each one of them will hold a variety of positions within the company along the way: projects, sales, etc., and they will see the big picture.“I am looking for assertive, creative people, who understand business, and from that, also sales processes. Personality and ability to communicate are extremely valuable. It is hard to find managers, and, generally, people look in the wrong place. The match has to be as close as possible. We have built a rigorous program, and I want to have 10 employees enter the first round. If I end up with a few good managers, I will be happy. Good managers are worth a lot of money.”Technology with creativityRSA (EMC Information Security division) Israel Director of Research and Innovation CTO Alon Kaufman says that using information for business purposes requires multi-disciplined people, and professional teams need to include, on the one hand, technical people, with backgrounds in statistics, mathematics, or computer science, and, on the other hand, content experts, who understand the business side, and the customers.“There are very few mathematicians who have a natural business sense, therefore, people who can translate and manage all the technical sides and direct them towards something business oriented that will speak to the customers, and will translate the information in the most practical manner into a final product, are very important. But thinking about the final product has to course through the blood of every one of the workers. So that they have the drive to find the simplest algorithm, and the most practical graphics. When we analyze the data, we need people who know how to ask questions, and know how to present the final product, visually speaking. Such a team could include an architect, a statistician, someone with a degree in computer science, and a physicist. The manager of such a team does not need to be an expert in one of the fields; the manager needs to have the personality traits to allow him to connect everyone, to communicate with the team, and to lead.”Is it possible to find such people?“It makes hiring very complicated. Depending on the candidate, you sometimes change the job description, because obviously you will never find yourself exactly. Typically, managers look for people who resemble themselves, but I think this is the biggest mistake - you should search for people who are different.”At the start-up company Innovid, the employee profile is also atypical for high-tech. “The company’s first employee was a Creative Director, which is a position that does not exist at high-tech companies,” says co-founder and global operations manager Zack Zigdon. “What we are creating is something new, and when you approach a client, you have to show him something to convince him. We need creative people to convince the advertisers.”Innovid offers advertisers a new way to present their products using videos that present viewers with options to be exposed to more and more information about the product. For instance, a viewer watching a car commercial may be able to book a test drive, view the car’s interior, or receive price quotes, while watching the commercial. The company has a full team of art and design school graduates working on the video advertising experience.Playtika Israel, which operates in the field of gaming on social networks, and whose primary platform is Facebook, has a hard time finding workers because the company is so specialized. According to head of HR Gabi Karni, she turns to candidates whom, in a typical recruit, she would not be interested in. The company’s content manager is a script writer, and working directly under him is a toy designer. The studio manager previously worked at an ad agency. The marketing manager is an entrepreneur, who previously founded a start-up. One worker was an IDF intelligence officer; his job is to research the competition. “Initially, it was because we had no choice,” says Karni, “But, later, I understood that, surprisingly, the variety and the heterogeneousness bring about our success as an innovative organization that creates products outside of the box. These workers come from a crossroads, seeking a new and challenging path. They come with motivation, hunger, and desire - this is what creates the synergy with the organizations culture and pace. Their learning curve is very steep, and they succeed exceptionally.”“Also seeking literature majors”As mentioned, seeking employees who do not fit the classic profile is not only typical in high-tech. McCann Valley (McXann Erickson ad agency Mitzpe Ramon extension) chairwoman Hana Rado, had a hard time finding young workers in the area. Hence, some of the senior staff relocated to the area from Tel Aviv, but there is a clear preference for Negev residents. “We take people with undergraduate degrees, who have no experience, and they undergo 3 months of training. For the time being, the training is in Tel Aviv, but soon it will be in Mitzpe Ramon. We have psychologists, economists, lawyers, communications majors, literature majors, people who understand language. People who like to write like journalists, economists, biologists. People who are interested in the Internet world. Wonderful people with values. It’s like a start-up in the desert."Published by Globes [online], Israel business news - www.globes-online.com - on December 30, 2013© Copyright of Globes Publisher Itonut (1983) Ltd. 2013 Globes - Wanted: Arts majors for high-tech      
Israeli defense exports hit record high
Official: Israel has technological solution to the Russian made S-300 air defense system, which may be sold soon to Syria.srael sold some $7.5 billion in defense products in 2012 – a record high – the Defense Ministry revealed on Tuesday, but officials voiced concerns that the coming year could see a slump in sales.Speaking to reporters at the Defense Ministry in Tel Aviv, Brig.-Gen. (res.) Shmaya Avieli, director of Defense Export and Defense Cooperation (known by its Hebrew acronym, “Sibat”), pointed to an ongoing economic downturn as one factor for decreased projected sales.He added that with the conflicts in Afghanistan and Iraq coming to a close, decreased demand for military products by coalition members will have a significant impact on the global defense industry. Additionally, Europe has a stated policy of preferring its own defense suppliers.“Israel is in the top 10 defense exporters in the world, if not the top five,” Avieli said. According to figures he unveiled, 25 percent of Israeli defense exports involve air defense systems, while sales of satellite platforms and radars collectively made up 24% of the revenue.Defense exports constitute 10% of Israel’s total industrial exports, not including diamonds, and 75% of Israeli defense manufacturing is slated for export to foreign markets. Although there are fears of a drop, Avieli said he did not expect 2013 to fall short of defense sales in 2011, which recorded some $5.8b. of exports.The most lucrative market, Avieli said, was the Asia and Pacific region, where states are preoccupied with building up their militaries, and where $4b. of Israeli defense products were purchased in 2012.Israel recorded $1.64b. of defense sales to Europe, while US purchases totaled some $1.2b.As a result of the decision to shut down an IAF squadron due to cuts in the defense budget, Israel has recently placed F-16 fighter jets on sale. The Iron Dome anti-rocket system is also on offer to foreign clients.“Investment in defense research and development not only produces returns for Israel’s security and the IDF’s strength, but also provides a high economic yield, to the benefit of the Israeli market,” Avieli said. “All of the credit goes to the industries, to the Israeli mind, and to the good ties Israel has with many states in the world.”Brig.-Gen. Eitan Eshel, head of research and development for the Defense Ministry’s Administration for the Development of Weapons and Technological Infrastructure (known as “Mapat“), said the IDF had access to technological solutions – both operational and under development – to the threat posed by the Russian S-300 air defense system. Moscow has vowed to complete the sale of the system to Damascus, which would threaten IAF activities in the region.Eshel added that the US is weighing the purchase of Rafael Advanced Defense System’s Trophy tank protection platform, which offers 360- degree defense against incoming threats and was first used operationally in 2011 by an IDF tank crew near Gaza. The US is testing Trophy out on its Ground Combat Vehicle, an armored infantry platform under development. Trophy “also identifies the source of fire and enables the tank’s weapon systems to quickly take aim at the source,” Eshel said.Israel Aerospace Industries’ subsidiary Elta Systems produces early warning and control planes; the US is the only other nation to offer such aircraft. Rafael’s SPICE guided missile system is being sold “around the world,” Eshel said. He added that Israel is second only to the US in drone production, noting the dozens of Israeli drone models on sale.He also mentioned robotic warfare, including autonomous armored vehicles and small robots for counter-terrorism missions, as a breakthrough Israeli specialty.
High-tech firms in Israel raise US $493 million in VC
The Israel Venture Capital (IVC) Research Center announced that Israeli high-tech firms were able to rake in US $493 million in venture capital during the second quarter. The figure is up by 4% compared with the first quarter's financing.It was further revealed that the amount accumulated for the second quarter was 3% higher than the funds raised during the same period in 2012. IVC made this accounting together with KPMG, an Israeli office of consultancy."The uptick in investments in the second quarter reflected in part relatively robust activity in the medical devices segment," said a partner at KPMG's technology group Ofer Sela."Yet, more than two years after the launch of the Israeli government initiative to promote investments in the life sciences, the sector as a whole is still not showing the expected results," Sela added.High-tech companies in Israel have been regarded as key drivers of the country's economy. It has prompted growth of up to 3.2% last year.
up


Last Articles


Made in Israel - an online exhibition and catalog of Israeli Products & Services made for export
2015 Jun 14
Wanted: Arts majors for high-tech From Globs Technology companies are looking for creativ...
Published by Dafna Barmeli-Golan
Made in Israel - an online exhibition and catalog of Israeli Products & Services made for export
2014 Aug 31
World's biggest fund discovers Tel Aviv From Globs Last year, Rami Levy joined BTI, the g...
Published by Amiram Barkat
Made in Israel - an online exhibition and catalog of Israeli Products & Services made for export
2014 Jul 07
Everyone wins when a big company acquires a start-up. From Globs Exactly three years ago,...
Published by Roy Goldenberg
Made in Israel - an online exhibition and catalog of Israeli Products & Services made for export
2014 Jul 07
Executives in Israel for the MIXiii conference tell "Globes" about the future of medici...
Published by Gali Weinreb