Industrial Cooperation and Promotion Authority was given yearly service award

In a ceremony at the Bible Lands Museum in Jerusalem, the Industrial Cooperation and Promotion of Foreign Investment Authority in the Ministry of Economy and Industry received the certificates of recognition for the winners of the awards.
The award was given to the IAA staff for a broad change in the concept of reciprocal purchasing and the commitment of foreign companies to purchase in Israel, "the customer at the center". The Authority's streamlining measures have led to an increase in the attractiveness of the Israeli economy as a target for global investments and the advancement of the Israeli economy, to strengthen economic cooperation between suppliers and industry in Israel, and to advance the Israeli economy in the billions of shekels a year.
"I am very proud of my people, headed by Yigal Gurevitch, the manager of the reciprocal purchasing department," Ziva Eiger, director of the Authority for Cooperation and Promotion of Foreign Investment in the Ministry of Economy and Industry, said. Regulation of business opportunity We regard multinational companies as potential investors for all intents and purposes The data presented proves that proper utilization of regulatory and enforcement tools as a reciprocal procurement can lead to the creation of business opportunities between leading multinational companies and Israeli industries, especially in the periphery. The second year in which the ICA operates in a format New, customer-focused, and business vision. In the end, we aim to bring in long-term investments and help create as many jobs as possible. "
The main activities of the ICA in 2017 include:
 In the past year, 268 new liabilities were recorded in the amount of $ 1.4 billion. These join past commitments, which together amount to $ 12 billion. This is an increase of 44% compared with the new commitments for reciprocal procurement in the previous year, by strengthening the ICA's monitoring and control mechanisms in the past year.
 Total sales of 228 foreign companies committed to reciprocal procurement in Israel amounted to $ 2.45 billion in 2017. This figure indicates an increase of 17% over the past year.
 A decrease of $ 250 million in the amount of arrears of the obliging companies, following the enforcement mechanisms that the ICA began implementing in the past year against companies that fail to meet their obligations.
 Many of the committed foreign companies choose to exercise more than their obligations under the law. Total foreign companies' sales in Israeli industry over the years amounted to $ 26 billion, more than double the cumulative commitments. Surplus sales amount to more than $ 14 billion. This indicates that the commitment to reciprocal procurement serves as an entry door for foreign companies into the Israeli market, many of which choose to remain and act after the end of the legal obligation.
 In 2017, 822 Israeli companies benefited from reciprocal purchase funds, an increase of 157 companies compared with last year, of which 353 were Israeli companies, which first enjoyed partnerships with committed companies - 72% more than last year.
 131 factories located in the periphery benefited from reciprocal purchases in 2017 - an increase of 54%.
 335 small and medium-sized companies benefited from reciprocal procurement - an increase of 64%