Dear Sir / Dear Madam,
It is my privilege and honor to introduce to you the unique opportunities offered by the Israeli industry and the assistance provided by the Industrial Cooperation Authority (ICA) of Israel.
Israel is renowned worldwide for its cutting edge high-tech solutions, which provide a unique opportunity for overseas corporations to take advantage of when fulfilling Industrial Cooperation Agreements.
The essential ingredient in Israel's industrial success is the high quality and professionalism of its work force, which not only possesses vast expertise and know-how, but is also endowed with a daring entrepreneurial spirit. At the same time, the country has more academically qualified scientists and engineers, per capita, than any other nation in the world.
Israel's main export products are in high-tech sectors such as communications and electronics, electro-optics and semiconductors, software and IT, biomedical industries, aerospace, defense and homeland security. More traditional industries in Israel such as plastic and rubber, metal and machinery and automotive products are also distinguished by incorporating value-added advanced technology components into their output.
The Industrial Cooperation Authority (ICA) is a legally constituted body whose functions include ensuring the fulfillment of Industrial Cooperation Agreements signed by overseas companies, due to their sales to the Government of Israel, Government owned corporations and companies, and other Government bodies; initiating, tracking and coordinating industrial cooperation activities resulting from the foreign companies' commitments towards the State of Israel. ICA's role also includes signing the said agreements with the overseas companies, and tracking and promoting the implementation of their commitments. ICA also assists local defense related industries in fulfilling their commitments within the framework of their export transactions in other countries.
The ICA assists overseas companies wishing to form appropriate partnerships in Israel for the purpose of fulfilling their Industrial Cooperation undertakings. ICA helps the foreign businessperson locate suitable Israeli firms for strategic partnerships or joint ventures, outsourcing or R&D agreements, or investments. ICA's team of industrial specialists offers their know-how and advice about how it can be done, providing the foreign company with the necessary information about the Israeli industry. All services are given free of charge.
As a result of industrial cooperation fulfillment of commitments, about $2 billion flowed into Israel in 2010 from dozens of major overseas corporations, which do business with about 400 Israeli industrial firms.
We expect this figure to rise following a government amendment to the Mandatory Tenders Regulations, which extends them to local authorities as well as to national health care services. The government also reiterated the obligation to include in their tenders Industrial Cooperation requirements, as it applies to other government and government related entities.
It should be noted that many overseas companies continue their business ties with Israeli firms following their initial positive experiences during their Industrial Cooperation activities in this country. Having discovered the range of possibilities and enormous technological and economic potential in Israeli industry, many foreign companies carry on implementing transactions with their Israeli partners, even after their commitments have been fully realized.
ICA's staff in Israel and abroad is eager to provide you with our complimentary services. We look forward to assisting you in facilitating contacts with the most appropriate Israeli partner for you, and we are confident that such partnerships will prove to be mutually profitable and beneficial, for all parties involved.
Bina BAR-ON