Israel to review security aspects of foreign investment

Netanyahu chairs the weekly cabinet meeting at his office in Jerusalem on October 27, 2019. (AFP)

Israel, facing US concerns over its growing ties with China, has decided to form a committee to review the “national security aspects” of foreign investments.

Prime Minister Benjamin Netanyahu’s Security Cabinet approved the new oversight body on Wednesday.

The panel, led by the Finance Ministry, is to include a number of security agencies.

“The processes that were agreed upon will find the appropriate balance between the need to encourage foreign investments in Israel and ensure continued economic prosperity, and considerations of national security,” a statement said.

The statement did not mention China, but the US has repeatedly raised concerns with Israel about technology transfers and potential espionage by China.

China is a major market for Israeli tech companies, and China has invested in Israeli companies and infrastructure projects.

Last Update: Wednesday, 20 May 2020 KSA 10:01 - GMT 07:01