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Minister of Finance Bezalel Smotrich has introduced the formation of a group to look at the implications of the collapse of Silicon Valley Financial institution within the US for Israel’s know-how trade, and to formulate suggestions for help.
The group might be headed by Ministry of Finance director common Shlomi Heisler, and can comprise representatives of the Ministry of Finance, the Financial institution of Israel, the Israel Securities Authority, and the Israel Innovation Authority.
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The Ministry of Finance announcement says that the group might be in contact with native know-how firms and with enterprise capital companies and monetary establishments in Israel and the US with a view to acquire information and evaluation of the attainable impact on the Israeli financial system, and can formulate options for the Israeli firms to the extent that these are required.
Shortly earlier than the financial institution’s collapse, Smotrich held a gathering with representatives of Israeli know-how firms to debate the judicial system overhaul that the federal government is legislating. On that topic, there are deep variations of opinion between know-how trade leaders, who see the laws as endangering the trade, and the minister, who is without doubt one of the foremost advocates of reform of the judicial system.
“The collapse of the financial institution is a major occasion for each the US and Israeli economies,” Smotrich stated. “We’ve promised to behave to make the Israeli financial system an island of stability and certainty within the stormy world financial waters, and with God’s assist that’s what we will do. The State of Israel will stand with the native know-how trade and can assist it to beat the disaster and proceed its growth and its enterprise.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on March 12, 2023.
© Copyright of Globes Writer Itonut (1983) Ltd., 2023.
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