You're watching...
Doron Cohen, director general, Israel Minister of Finance, at the “Innovate, Invest, Israel” Conference on why the nation has a human capital adva...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Wasn't general hosting me innovate invest is Terry L conference here in New York highlighting the investment opportunities mr.
-- -- very Adams there.
Even with a special guest Adam.
They -- CI yet -- -- -- is joining us he's the Director General of the Israeli ministry of finance and one of the things that you hear at this conference.
Is brainpower Rupert Murdoch the CEO of our corporation talking about human capital and how Israel has so successfully.
Taps that resource -- one of things will be talking about momentarily.
Is how many the the men and women who serve in the IDF Israeli defense forces who come out of the security branches with a technical and IT background and then go to private practice.
How reporting has that been -- of the become the world leader in technology and fear -- Think part of how we maintained existent because we consider.
The UN capitalism major -- itself on nation of our economy.
And we'd like to preserve our advantage in order to do what part of doing good are increasing significantly in the past several years.
Our budgets and participation of logic universities and on budget for education -- elementary school for high school and -- for kindergartens.
You talk about budgets and increasing spending on education here in the United States we are having great debate over budgets and Israel faced the really drastic economic situations in the early 1980s publicly held debt at over 200% of GDP.
Today that figure is around 78%.
How did Israel get hold of its financial problems to the point where you now.
Have an economy that is on par with that of country in Europe.
I think disciplined let's -- some discipline when we come to -- really almost bankruptcy.
-- to meet a piece that we took off of independence -- -- to be discipline in fiscal discipline and and working within the framework and since they meet a piece and then we create some rules in early nineties and in -- -- past nine years.
We are strictly disciplined in the frame local budget and -- -- it.
And we cannot break these frameworks and because -- -- all politicians in Israel.
Understand and -- and because why I think we gain the trust of investors.
And we gained trust of the there's a day -- the -- us and we.
-- and we.
Manage to.
Overcome our economy big you know you're you're in a part of the world where you -- surrounded by neighbors who are hostile to your economic interest and yet that the economy of Israel.
Has grown in the last many years has something on average of 8% every year it's down about three point 8% at this point.
But that's still the GDP we would be envious of in the United States -- keep going forward.
When you have neighbors who are you know in favor of destroying Israel how do you get investors say look we're gonna be around forever.
You should bring your money.
First we believe that we are going to be there -- -- about you mentioned before but sometimes you take even good decent vantage the fact that we have to spend.
Money own defense and neutralize the innovation of defense to civilian thinks W -- We use our the fact between get this out to -- eighteenth.
In part because children woke up treatment in any kind of think between before leaving -- think that the single patient.
This involvement affect the Cuban talked -- as a major currencies because what is keeping us life.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Genetics they're going forward with the drought resistant crops in the working with people the United States we haven't had a chance to talk about.
That the deputy that the Director General finance ministry and I were talking about the fact that 75% of the water that the Israelis use and agriculture is recycled.
And almost all drinking water and Israel come within the next year to.
Will be from plants that desalination so this is really country that is on the forefront of the kinds of things in the United States which is dealing with given the drought we've had this share.
And other issues facing water resources are going to be talking a lot more about this as the conference goes on and why you might want to consider investing in Israel.
Back to you.
