Monday, August 13, 2007
General Motors to Open R&D Facility in Israel
General Motors Corporation has announced that it intends to open a Research & Development Facility in Israel. The facility is likely to be located in Ra'anana and will have branch offices in other communities according to the Ministry of Industry, Trade & Labors Industrial Corp. Authority.
GM has invested in the development of automotive technologies in Israel since 1990 through GM/UMI a joint venture with GM Importer Universal Motors Israel. Ltd. General Motors Corp. makes the largest amount of reciprocal procurements in Israel among vehicle manufactures, GM made $102 Million Dollars in reciprocal procurements in 2005 up 32% from the previous year.
Israel continues to prosper economically and thrives as a nation due to its freedom and democracy. Unlike the Palestinian Authority (PA) which has told the European Union that it needs more than $1 Billion Dollars in international aid, "...to avert a devastating humanitarian crisis."
In 2005 the United States gave about $400 Million Dollars directly and indirectly to the PA through the United Nations and in 2006 U.S. tax-payers provided an additional $468 Million Dollars. Providing welfare to the PA has not been beneficial and Hamas is no less militant. The PA continues to beg for more and more money turning them into dependents that reject democracy for Islamic totalitarian rule. PA gross domestic product went down by 6.6% in 2006 while poverty increased by 30% with more than 33% of the Palestinian population unemployed.
Until the PA embraces peace and freedom they will never realize prosperity and the opportunities that continue to blossom in Israel.