Intel postpones investment meeting in Jerusalem amidst heightened tensions surrounding judicial coup
Intel postpones investment meeting in Jerusalem amidst heightened tensions surrounding judicial coup
Calcalist has learned from sources involved in the discussions that Intel decided to postpone the meeting due to its concern that announcing an investment at this time would be seen as political support for the government of Benjamin Netanyahu and its planned judicial coup
Intel has postponed a meeting scheduled for Monday with state officials in Jerusalem that was meant to discuss the company’s plan to expand its investments in Israel by another $20-25 billion.
Calcalist has learned from sources involved in the discussions that Intel decided to postpone the meeting due to its concern that announcing such an investment at this time would be seen as political support for the government of Benjamin Netanyahu and its planned judicial coup.
Intel refused to comment on the report.
Monday’s meeting was meant to discuss Intel’s investment and the benefits it would receive for making such a commitment. In 2019, Intel received benefits valued at NIS 3.2 billion in return for its guarantee to employ a certain number of Israelis and invest around NIS 37 billion in Israel. It is unclear whether Intel has fully met its side of the bargain to date.
Over recent days the company has been increasingly concerned that Netanyahu’s coalition was planning to use the potential investment to prove that tech giants like Intel are willing to put their trust in the Israeli economy at this time, even though this investment is actually part of the company’s global plan to expand its manufacturing facilities across the world. This fear is what ultimately led to the postponement of the meeting.
First published: 23:33, 12.02.23
