Tokyo / Jerusalem – A report by an Israeli advisory body claims that economic cooperation between Japan and Israel is increasing. As per the information given by Harel-Hertz Investment House, Japanese companies have made an investment of $3 billion in Israel in 2021. The Israeli agency said that Japan’s investment had tripled compared to 2020.
Over the past decade, China has stepped up its efforts to increase its influence in the Middle East. It was also revealed that China had made huge investments to increase its closeness with Israel. Against this backdrop, the growing investment from Japan in Israel is noteworthy. Japan has invested in cyber, telecommunications and technology in Israel, according to Harel-Hertz Investment House.
Economic cooperation between Japan and Israel has started growing since 2014-15, attributed to visits by the heads of the two countries. Former Israeli Prime Minister Benjamin Netanyahu visited Japan in 2014. Then in 2015, the then Prime Minister of Japan, Abe Shinzo, visited Israel. During these visits, several agreements were signed between the two countries. Since then, investment and economic cooperation between the two countries has grown.
So far, Japanese companies have invested nearly $13 billion in Israel. More than 90 Japanese companies and brands are currently active in Israel. Japanese companies investing in Israel include Softbank, Mitsubishi, NTT, Mitsui and Sumitomo. Former Israeli intelligence chief Yossi Cohen has been named in charge of Softbank’s operations in Israel.
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