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What Is Israel's Economy?

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Israel gained independence in 1948, and its vibrant democracy remains unique in the region. Prime Minister Benjamin Netanyahu, reelected in March 2015, leads a coalition government of right-leaning and religious parties. Israel has a modern market economy with a thriving high-technology sector that attracts considerable foreign investment. The recent discovery of large offshore natural gas deposits has improved both its energy security and its balance-of-payments prospects. Despite the 2006 war against Hezbollah in Lebanon and the 2008–2009, 2012, and 2014 wars against Hamas in Gaza, as well as the constant threat of terrorism, Israel’s economy is fundamentally sound and dynamic Despite a very challenging external economic environment, …show more content…

businesspeople feel very comfortable in doing business in Israel. American business travelers will find the dress code in both the public and private sectors to be much less formal than in the U.S. A business suit is appropriate in meetings with high level executives and government officials and ties are optional. Appointments can be made on fairly short notice; however, reconfirming appointments is advised, given that most Israelis tend to have busy schedules. Israelis arrive well prepared for meetings and are very direct. It’s preferable to provide your hosts with an agenda outlining your objectives in advance. Exchange of business cards is common, although some may be less accustomed to this practice. Therefore, provide your business card early on and politely request one in return, if not offered. English is widely spoken in the business community and in government offices, but knowing and using a few Hebrew words, especially introductory phrases and greetings, can be useful. Economical Israel is today an industrialized country with most of its manufacturing, including many traditional fields, based on intensive and sophisticated research & development and hi-tech processes, tools, and machinery. This is the outcome of very rapid and intensive development. Their major GNP is 21.6 by industry branch and least being agriculture by 2.5. industrial branch includes 75% of countries exports. Israel is one of the most

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