Israel’s foreign investments hit $11.8b in H1 ’24

Foreign investments in Israel surged to $11.8 billion in the first half of 2024, despite its multifront aggression on Gaza, and Lebanon, and direct confrontations with Iran, according to the finance ministry’s latest report.

This marks a significant recovery compared to 2023, which recorded $17.9 billion in total foreign deals—its lowest since 2019 when excluding Intel’s $15 billion investment.

The 2023 decline surpassed the global 20 per cent drop reported by the OECD, driven by political unrest over judicial reforms. The US was the leading investor, contributing $24 billion, followed by France ($3.7 billion), India ($1.2 billion), and the UK ($1.1 billion). Key sectors included semiconductors, IT, and life sciences.

Major 2023 deals included Intel’s Kiryat Gat facility investment, the $3.6 billion merger of Imperva Inc. with France’s Thales SA, and Adani Group’s $1.2 billion investment in the port of Haifa. Chief economist Shmuel Abramzon expressed optimism, anticipating sustained investment growth with improved security and political conditions.

Attribution: Bloomberg

Subediting: M. S. Salama