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Foreign Investment in UK: Israel

Volume 473: debated on Wednesday 12 March 2008

To ask the Secretary of State for Business, Enterprise and Regulatory Reform what assistance his Department provides to Israeli businesses wishing to (a) invest in the United Kingdom and (b) take part in joint ventures with UK companies; how much was made available for these purposes in each of the last five years; and if he will make a statement. (189015)

The UK Trade and Investment (UKTI) team in the British embassy in Tel Aviv includes two officials who focus primarily on encouraging Israeli investment in the UK, and on encouraging collaboration between British and Israeli firms in areas such as research and development (R and D). Although there is no dedicated annual budget for this work, the UKTI team in Tel Aviv has access to centrally-held funds to support regular programme activity in support of these aims. Recent examples include a seminar on listing on the London Stock Exchange, held in Tel Aviv in November 2007; a seminar on inward investment in stem cell R and D, held in Tel Aviv in December 2007; an inward mission to the UK in the healthcare sector, in December 2007; and the publication of a newsletter to coincide with the Lord Mayor's visit to Israel, from 21 to 24 January 2008, highlighting the UK's strengths as a business partner.