Daily Israel Report

Business-Zionist Message: 'Invest in the Galilee'

INN TV meets Or Doari, who is trying to get Israeli entrepreneurs to invest in Israel's north, particularly in the Galilee.
By Elad Benari & Yoni Kempinski
First Publish: 5/18/2011, 5:13 AM / Last Update: 5/18/2011, 8:14 PM

Israel National News TV met this week with Or Doari of the Emet organization, which actively seeks out entrepreneurs to invest in Israel’s north, particularly the Galilee.

Doari, who took part in a conference with business people in Tel Aviv, said that central Israel “is the richest state in the world from all aspects. We could go abroad to bring money, but here there really is a state which has a lot of means.”

He added, “We come and tell people: ‘You’re investing in central Israel and that’s worth a lot of money, but you should also come only a few kilometers north of here and invest in the Galilee'. We offer them opportunities to do so.”

Doari noted some of the opportunities that are currently available to investors in the Galilee.

“We’re currently looking for entrepreneurs who will come to Migdal Ha’emek, for example, to invest in 88 housing units there,” he said. “In Nazareth Illit there are 3,000 housing units. Tiberias has another few dozen. Afula has another few dozen. We need those entrepreneurs to come and put down the money. People will fill the housing units right afterwards.”

Currently, there are several large and well-known businesses which have begun investing in the Galilee. Doari noted that the owners of these businesses explain that they chose to do this not just because of ideology, but also because the area has business potential.

He also said that the construction of a medical school in Tzfat was recently approved, something which will drastically change the face of the Galilee and produce 5,000 additional jobs in the region.

He added that businesses in the Galilee enjoy a tax benefit which is 13 percent greater than businesses that operate in central Israel. There are also nine local entrepreneurship development centers which help and advise new businesses on how to set up in the region.

Finally, Doari emphasized that many young couples prefer the alternative in the north to the high density of central Israel, but explained that, once again, investors are needed to fulfill this dream.

“The demand is huge but there’s no supply,” he concluded.