Hanan Friedman, President & CEO of Bank Leumi, speaking at the Jerusalem Post Annual Conference in New York, told attendees that now is the ideal time to invest in Israel – not only for Zionistic reasons, but because of the financial upside. He urged attendees to spread the word and continue to believe and invest in Israel. “This is the time to join the trend and enjoy, very soon, hopefully, the expected lucrative upside of the Israeli economy.”
The actions of the Bank of Israel taken since the beginning of the war, he said, have reduced the adverse effects of the war without harming the strength of the Israeli economy and its ability for rapid growth the day after the war ends.
Freidman noted the strong ties between the United States and Israel, adding that Israel is fortunate to have an ally such as the US, which has always supported it, even in the most difficult periods. “Although there may be disagreements between the two countries at times, there is no disputing that Israel is lucky to have an ally such as the United States. One of the main reasons I felt I needed to come here today is simply to say thank you.”
Israel’s strong economic fundamentals, he said, have contributed to its resilience, even in challenging times, and its growth engines, particularly its high-tech industry, have helped it offset some of the negative aspects of the war. Israel’s engineers, scientists, and entrepreneurs, he added, are converting their innovative ideas into actual products and technologies. In the past, he noted, talented Israeli minds left the country. During the current war, he said, they have returned to Israel.
“Another strategic asset contributing to Israel’s long-term financial strength – and especially during the war,” said Friedman, “is our defense industry. In less than a decade, the scope of Israel’s defense exports has doubled. Israeli innovation and creativity - which have only intensified during the war - will continue to make Israel a leader in the growth of technology and innovation.”
Bank Leumi sponsored a portion of the Jerusalem Post Annual
Conference. www.jpost.com/AC24