Simhon: Gov’t favors price supervision

Intel plans to invest $15m. over the next five years in a collaborative research institute in Israel.

January 24, 2012 23:29
1 minute read.

Intel. (photo credit: PR)

The government has decided in favor of marking consumer products under price supervision, and will soon put forward a bill on the matter, Industry, Trade and Labor Minister Shalom Simhom told the Knesset Economics Committee Tuesday.

Responding to MK Robert Tiviaev, who asked why his own bill on the marking of supervised products had not been brought to a vote, Simhon said that the relevant law already exists, and all that was needed now was for his ministry to compile the list of products under supervision.

Be the first to know - Join our Facebook page.

Simhon also referred to plans to boost employment in the Galilee and the Negev, saying that the next government grant for IT giant Intel must be conditional on its commitment to constructing a production plant in the north. “Making Intel invest NIS 20 billion is no trivial matter, and it will add 2,000 new jobs in the north,” he said.

The minister’s comments follow reports that Intel is planning to build a new semiconductor chip production plant in Ireland instead of expanding its existing Fab 28 in the southern Israeli town of Kiryat Gat. Intel said last June that it would need a $600 million grant from Israel’s Investment Promotion Center if it is to upgrade Fab 28.

Intel, the world’s largest manufacturer of semiconductor chips, operates six development and manufacturing centers in Israel, including two plants in Kiryat Gat.

It also plans to invest $15m. over the next five years in a collaborative research institute in the country.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection