Israel is to take control of e-commerce companies in a bid to boost the economy
Israel is poised to seize control of companies that provide e-Commerce in the country, with the move likely to lead to an influx of foreign money and potentially boost the growth of the country’s economy.
According to a new report from the Jerusalem Post, Israel is planning to take over some e-Businesses and consolidate them under a single authority and to merge them under one entity.
The move is expected to help the government boost the local e-Currency economy and make the country more competitive in the international market, which is expected be worth around $2.8 billion by 2020.
It comes just days after Israel’s Chief Investment Office said it was planning to expand the scope of its operations in the e-business sector, adding that it is also looking at creating a regional e-money and e-trade hub.
However, it is expected that the eCommerce businesses will not be part of the new entity, as it is not considered a national entity.
However the move is likely to boost Israel’s e-currency economy, which has been on the decline.
Israel’s eCommerce economy has been a major driver of its economic growth in recent years.
In the last few years, the country has seen its GDP grow by 5.2 percent annually and is expected by 2020 to reach $1.5 billion.
The country is currently in a prolonged economic recession, but a report from Israel’s Ministry of Finance on Wednesday suggested that the economy will grow in 2020 by 5 percent, reaching $1 billion.
The report said the economic growth would also support Israel’s efforts to expand e-services, as Israel’s exports of ecommerce goods will be the highest in the world by 2020, and ecommerce will be a major component of Israel’s economic growth.