JERUSALEM, June 30 (Xinhua) -- The Israeli Ministry of Finance on Tuesday launched a 1.6-billion-shekel (537 million U.S. dollars) aid package to support the export and hi-tech sectors after the shekel recently hit a near 33-year peak against the dollar.
The plan aims to help Israeli exporters and hi-tech companies cope with currency fluctuations, maintain global competitiveness, and shore up long-term economic growth.
Of the total, about 1 billion shekels will fund fast-track grants for growth-stage tech firms, extending their financial runway to encourage expansion and keep operations onshore.
The plan also includes funding for exporters, investment in industrial machinery and advanced equipment, and training programs to prepare workers for higher-productivity jobs.
As part of the plan, tax incentives for exporters and industrial companies will be expanded to accelerate investment.
