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Intel logo Reuters

Intel Corp. CEO Paul Otellini arrived in Israel to launch the company's $5 million investment in Israeli high schools over the next four years, in partnership with the Ministry of Education, Globes news reported.

Speaking at a press conference in Jerusalem's David Citadel Hotel, he said the projects aim is "to double the number of high school students completing their science and technology matriculation certificate."

Explaining Intel's motive in investing in Israeli education he said, "We are perhaps the largest private employer in Israel (about 8,000 employees in the company's development and production centers) and most of those employees have technological know-how. Some of our most sophisticated engineering efforts are carried out in Israel."

Intel's involvement in education will encompass interaction with the school system, teacher guidance, and encouraging students to deepen their technological and scientific know-how.

According to Globes, Otellini said he is often skeptical about the involvement of private enterprise in government activities, but insists that Intel's education project is the right course of action.

"I don't think there is a conflict of interest with our investment. Ultimately we are doing it to make the children more enthusiastic about science. That's a good thing. I don't see any potential problem," he said.

"We have been in Israel for 40 years and we have done many things. We're here for the long term and we will decide next year regarding our next factory,” added Otellini.