ECONOMIC SURVEY
22 May 1996
(COMMUNICATED BY GPO ECONOMICS DESK)
GOVERNMENT SECTOR:
* MERRILL LYNCH INTERNATIONAL CHOSEN AS CHIEF UNDERWRITER FOR EUROBONDS
ISSUE.
Merrill Lynch International, in London, has been chosen as the lead
underwriter and organizer of Israel's first Euro-bond issue, the Finance
Ministry announced. According to the ministry, 18 investment banks from
the US, Europe and Japan competed for the position. The issue of $200
million in bonds is scheduled to take place at the end of 1996.
Finance Ministry - Eli Yosef, 972-2-317201
COMMUNICATIONS SECTOR:
* TAIWAN INTERESTED IN COOPERATION IN SATELLITE DEVELOPMENT TECHNOLOGIES.
Participants in a delegation from Taiwan's Science Ministry and its
private sector, which recently visited Israel, expressed interest in
cooperating with Israel in the field of satellite development. The group
showed particular interest in a micro-satellite being developed at the
Technion. During their visit, the delegation also met with representatives
from the banking, telecommunications, and biotechnology sectors.
Center for Business Promotion - Noah Shani, 972-2-861707
* STUDY SHOWS 750 INTERNET SITES IN ISRAEL.
A study conducted by Meta-Group (Israel), a consulting firm specializing
in the communications sector, reported that at the end of April 1996,
there were approximately 750 internet sites in Israel. Some 20% of the
sites belong to high tech, computer, and communications firms, while
tourism sector related sites accounted for 5.5% of the sites. Within two
years, the Meta-Group (Israel) predicts that the number of sites in Israel
will grow by 150%. (Globes, 28.4.96, High-Tech section, p.22)
Meta-Group (Israel) - Jimmy Schwartzkopf, 972-3-6957395
TOURISM SECTOR:
* TOURISM REVENUE UP BY MORE THAN 55% DURING 1992-95 COMPARED TO 1988-91.
Revenue from tourism during the period from 1992-95 was approximately $11
billion, compared to approximately $7 billion which was received between
1988-91, Tourism Minister Uzi Baram reported. The number of tourists
arriving in Israel during the period between 1992-95 was 8.5 million,
compared to 5.19 million who visited between 1988-91, he said. During the
latter period, the number of trips abroad by Israelis was 6.5 million,
while during the earlier period, the number was 3.5 million. He noted that
the number of hotel rooms grew to 34,801 in 1995, compared to 27,643 at
the end of 1991. Baram also pointed out that the ministry's budget
increased by over 1,100% from 1990 (NIS 18 million) to 1995 (NIS 226
million).
Tourism Ministry - Orly Doron, 972-2-754845
DEFENSE INDUSTRIES SECTOR:
* ISRAEL TO PARTICIPATE IN FRENCH EUROSATORY EXHIBITION.
Israel will participate for the first time in the French Eurosatory
exhibition, the Defense Ministry announced. The exhibition, to take place
at La Bourget near Paris from 24-29 June 1996, is designed for defense
industries to show their wares to foreign buyers. Twelve Israeli firms
will participate in the show, which is expected to draw thousands of
visitors and which will have dozens of national and private pavilions.
Defense Ministry - Dan Weinreich, 972-3-6975339
AGRICULTURE SECTOR:
* GENETICALLY ENGINEERED PLANTS GIVEN APPROVAL FOR FIRST FIELD
EXPERIMENTS.
The Agriculture Ministry has given its approval for field experiments to
be conducted with plants whose development included genetic engineering
procedures, the ministry announced. This is the first time that
researchers have been given permission to field test genetically
engineered plants. The tests will be carried out by the research division
of the Agriculture Ministry, the Hebrew University's Agriculture Faculty,
and private organizations.
Agriculture Ministry Chief Scientist - Prof. Dan Levanon, 972-3-9683675
CONFERENCES:
* AUTHORITY FOR INDUSTRIAL COOPERATION TO HOLD CONFERENCE IN NEW YORK.
The Authority for Industrial Cooperation, the government body for
coordinating industrial cooperation between Israeli firms and foreign
concerns selling products in Israel, will hold a conference in New York on
25 June 1996 to provide a forum for local and foreign firms to meet.
Foreign firms which bid and win tenders for supplying products to Israel,
commit themselves either to produce part of the contract in Israel, or to
buy a specified amount of the contract in Israel.
Trade and Industry Ministry - Ayal Fabian, 972-2-220389
MACRO-ECONOMIC SECTOR:
* NIS 63.7 BILLION HELD IN SAVINGS PLANS IN 1995.
In 1995, the amount of assets in all savings plans rose in real terms
by 8.2% to NIS 63.7 billion, the Finance Ministry reported. At the end
of 1995, the amount of assets held in savings programs out of the total
financial assets held by the public was 12.4%, compared to 12.2% at the
end of 1994, and 16% at the end of 1989. The net real accumulation of
assets in savings accounts (deposits minus payments) during 1995 was NIS 8
billion, compared to NIS 6.5 billion in 1994, and NIS 760 million in 1993.
Finance Ministry - Eli Yosef, 972-2-317201