NIS 102m. approved for R&D projects

Among the winners were six telecommunications projects securing NIS 72.3m., four chemical projects awarded NIS 5m., and three projects in electronics and electro-optics which received NIS 24.3m.

The Industry, Trade, and Labor Ministry said Monday it recently approved investments totaling NIS 102 million for 13 research and development projects. Of that sum, NIS 43m. came from government grants. Among the winners were six telecommunications projects securing NIS 72.3m., four chemical projects awarded NIS 5m., and three projects in electronics and electro-optics which received NIS 24.3m. The ministry also said it approved seven companies for tax benefits to help them reinvest in future R&D, as described in the Investment Encouragement law.