UK government leaders have welcomed £3 million of Israeli investment into the UK – which could lead to the creation of 100 jobs in south Wales and £13 million being spent with local suppliers.
The investment – jointly made by Israeli owned technology companies – was announced today.
Welsh Secretary of State Stephen Crabb said: “International investors can see that Wales is an outward-looking nation and an attractive destination for business. Israel is a close friend of the UK and we enjoy an excellent trade relationship, built on decades of co-operation.”
Mr Crabb, the Tory MP for Preseli Pembrokeshire, added: "This is a fantastic opportunity to show that we are open for business, open for trade, and open for investment."
Welsh Government Economy Minister Edwina Hart, the Labour Assemble Member for Gower, also welcomed the announcement. She said: “I am delighted that Wales is proving to be such an attractive location for advanced technology companies from Israel and that we are seeing new investment as well as significant on-going reinvestment.”
British Ambassador to Israel David Quarrey said: “I am certain ties between the two markets will continue to deepen, a collaboration that will benefit both sides."
Newport-based SPTS Technologies, which is owned by Israeli company Orbotech, has confirmed that it will create 30 full-time research and development roles in Newport, which will result in an anticipated additional £13 million spent with local suppliers. Israeli company Sapiens International Corporation, which provides software to the insurance industry, is said to be looking to “substantially” increase the number of people it employees in Cardiff.
Water filtration company Amiad Water Systems will open its first UK base in Swansea. It will create up to 10 jobs this year ahead of plans for further expansion in the area. Lordan UK has announced a £1 million investment into its Hengoed base, which manufactures high quality custom-made fin and tube heat exchangers.
The investment came as a result of work between the Welsh government and UK Trade and Investment Israel.
The week, representatives from Israeli companies are visiting to Wales in a bid to further bilateral trade and investment between the countries.
