Foreign investment continues flowing into Israel
The purchase of a communications equipment company raised October figures.
Zeev Klein 13 Nov 07 15:26
Total direct and portfolio investment by nonresidents amounted to $1.25 billion in October, greater than 10% of the total $9.3 billion investments made since the beginning of 2007.
Today, the Bank of Israel reported foreign exchange activity data, which showed that nonresidents' investments in Israel, continue to be strong, following a trend of large amounts of total direct and portfolio investments, which totaled $22.5 billion in 2006 and $8.6 billion in 2005.
Foreign direct investment in October totaled 1.87 billion, and has totaled 8.1 billion since January. The October figure was impacted significantly by the purchase by a nonresident of an Israeli company producing communication equipment. The direct investment from that deal totaled $1.2 billion. Half of this amount was already held by the nonresidents as a portfolio investment, so that alongside the direct investment of $ 1.2 billion, sales of about $ 600 million from the nonresident’s portfolio holding were also recorded.
Direct investment abroad by Israeli investors reached $110 million in October and has reached $5.1 billion since January.
Published by Globes [online], Israel business news - www.globes-online.com - on November 13, 2007
