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Israel Approves
Training Scheme
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Jerusalem (JPFS) — The Israeli gov-
ernment approved the implementa-
tion of a pilot program for training
employees in high-tech industries.
In the first stage, some 300-400
people will study for a year, with
tuition being given at a variety of
levels.
Labor and Social Affairs Minister
Eli Yishai said the program, which
hopes to train 6,000 people over the
next three years, "is a great step for-
ward in developing Israel's industries
of the future."
The initial part of the plan will be
funded from within the ministry's
existing budget. The government will
have to consider future funding if
the program proves a success. In
order to train 6,000 people, the
ministry's professional training
department says it will need a $30
million budget so that it can func-
tion until the year 2000.
The logic behind the program is
the ever-growing need for new blood
in Israeli technological industries.
Government economists say the pre-
sent shortfall in the work force runs
to 3,500 and could double by the
turn of the century.
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Investment Center
Approves Projects
Jerusalem (JPFS) — The number of
projects approved for capital invest-
ment aid by the Israel Industry and
Trade Ministry's Investment Center
totaled 126 in the first third of the
year, a 32 percent increase from the
same period last year.
However, the value of the projects,
$240 million, dropped 16 percent.
The proportion of start-up pro-
jects continued to rise in the begin-
ning of this year. Most foreign
investment in the period was focused
on the high-tech sector.
Of the projects approved, 58 per-
cent are in the tax break benefit
track, in which the business operates
tax free for two years and enjoys dis-
counts for another five years.
This is the only option available
in the center of the country.
In national priority zones, grants
of up to 24 percent of fixed assets are
offered, much lower than several
years ago, when 38 percent was avail-
able.