Among Kahlon reforms, inviting foreign construction companies to Israel

March 6, 2016 21:03

Finance Minister Moshe Kahlon advanced an avalanche of policy proposals Sunday to boost supply in the real estate market and bring down houses, including a plan to invite foreign construction companies to operate in Israel.

The plan, which the housing cabinet will take up on Monday, would select six foreign companies and give them access to the Israeli market over the course of five years.

The companies, which will be able to cooperate with local companies, will be able to obtain 1,000 visas for foreign workers for their projects.

The hope is that foreign companies will shake up the competition among Israeli construction companies, and introduce the more technologically advanced building methods that have been absent from the sector.

Unsurprisingly, Eldad Nitzan, the chief of the foreign construction workers union in the Federation of Israeli Chambers of Commerce came out against the plan, saying it would be a blow to Israeli employees.

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