In New York, Netanyahu urges investment in Israel

PM: We take pride in our brainpower and the entrepreneurship of our people.

By JORDANA HORN
November 10, 2010 07:07
2 minute read.
PM Binyamin Netanyahu

Netanyahu head. (photo credit: Ariel Schalit/AP)

NEW YORK – Prime Minister Binyamin Netanyahu met Tuesday with numerous business leaders and American business news outlets to praise the Israeli economy and to encourage investment in Israel, on his first full day in New York.

At an off-the-record luncheon for approximately 60 New York financial leaders, Netanyahu encouraged attendees to invest in Israel.

The audience, which was overwhelmingly male, watched Netanyahu make the case for the Israeli economy as he drew with a marker on white paper propped up on an easel at the Regency Hotel on the Upper East Side.

Netanyahu spent Tuesday morning giving interviews to Bloomberg television, Fox Business News and CNBC. In the interviews, he also spoke with great enthusiasm about the Israeli economy.

“We [take] pride [in] our brainpower and the entrepreneurship of our people,” Netanyahu told Bloomberg television, adding that the 21st century promised to be an era, “where those who can develop conceptual products can do very well.”

When asked about the ripple effect of other economies and their respective struggles, Netanyahu characterized himself as “a speedboat operator” rather than “the captain of a large cruise ship,” and said that the Israeli economy is doing well.

“Basically, investors around the world are looking for two things,” Netanyahu told Bloomberg. “One, they’re looking for the potential of growth. And growth is determined first and foremost by the ability to free up your economy. And there’s no question about that. And certainly in small economies, that’s true.

“And the second is, how do you manage risk?,” he continued.

“We’re experts at managing uncertainty. We have lived with uncertainty from day one. And that hasn’t prevented us from moving to an economy that is now [producing] about $30,000 per capita.

“But the growth is right there, it’s in front of us, because we can produce per capita more conceptual products right now than any other society on Earth,” Netanyahu said, sounding one of the themes of his visit.

“And that’s the creation of wealth. And I think investors should look at that and understand that there’s great opportunity. And the future belongs to those who can produce conceptual products.

We can produce them,” the prime minister said.

Voicing admiration for the economic cooperation in the Gulf States, Netanyahu said he’d “like to see that same recognition move to the rest of the Arab world.

“And we’d like to have that peace for security and for prosperity for everyone accompany the peace agreement that we want to achieve with the Palestinians,” Netanyahu said.


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