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Israel's Economy Minister Expects Post-War Economic Boom

2023 Oct 19, 19:48, Israel
Israel's Minister of Economy and Industry, Nir Barkat (Photo/ANI)

Amid the ongoing counter-offensive against Hamas after the October 7 terror attacks, Israel's Minister of Economy and Industry, Nir Barkat, underlined his country's economic resilience and determination to forge ahead, saying that the economy will "boom" once the war with the terrorist group ends.

Speaking to ANI, Barkat said, "Actually, amid the ongoing war, we are open for business and this is a good time to foster and build government-to-government relationships, enabling more companies to invest here. The global investors are waiting for the war to end, which is fine. But they should be ready as there's going to a boom in our economy, a major boost, when all this is over."

While the terror attacks and the retaliatory air strikes, which have claimed scores of lives on both sides, have threatened to impede Israeli efforts to attract investments, Barkat affirmed that his country's trademark "entrepreneurial spirit, global business acumen, and unyielding resolve" will ultimately drive its economy to new heights.

"Israel has a huge advantage. We're very entrepreneurial, we know how to do business globally, and we're going to win this war. So, smart investors and smart people are looking at opportunities," Barkat told ANI.

He added that while Israel has waged many wars through its history, the economy has remained strong and resilient, weathering the storms and coming out stronger.

The minister said he was eager to ensure that there is no exception to the rule this year.

Asserting that he sees a bright future for his country even in the midst of the ongoing conflict, Barkat said, "The opportunities are not going to be reduced. They're only going to increase because Israel is going to be an even safer place (after war ends and the country prevails)," he added, alluding to the government's pledge to eradicate the threat posed by terror group Hamas.

The minister said he has personally witnessed growing international interest in Israel as a potential investment destination. "After the trips I've made, including to India not long ago, this year, I see a lot of interest," he said.

Urging the world to stand with Israel in the war with Hamas and "collaborate" with his country, Barkat said, "I strongly recommend the world unite with us against Hamas, comes together with us against Iran and Kzbaah and collaborate with us on taking our economy forward because we know how to create win-win global business," the Israeli minister said.

"The best time to invest is before the curve," he said, encuraging business leaders and governments to seize this moment and stressing that Israel remains open for business even while dealing the security threats.

"Well, the wars going to end, you know the best time to invest is before the curve... Actually, in parallel to fighting the war we're open for business and this is a good time to do government-to-government relationships to enable more companies to invest, the ones that are waiting to the end of the war," he added.

Barkat's message is clear: "Israel is not just a nation fighting against its adversaries; it is a country striving for economic growth and prosperity".

"We want the world to enjoy working with us, not just to combat evil but also to enjoy collaboration and the growth of the economy," he said, underlining the country's efforts to unite the world against its adversaries and for economic collaboration on a global scale.

Meanwhile, as the Israel-Hamas war entered its 13th day, global protests over the deadly strike at a Gaza hospital continued, with arrests of Jewish anti-war demonstrators reported inside US Congress, according to CNN.

The Palestinian Mission to the UN in Geneva denounced Israeli "disinformation and propaganda" after the Gaza hospital explosion.

At least 3,785 Palestinians have killed in the Israeli strikes on Gaza since the October 7 terror attacks, which claimed more than 1,400 lives, CNN reported.


Israel Hamas Israel Hamas conflict Nir Barkat Israeli Minister Gaza hospital UN Geneva October 7 attack
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