BDO customers to invest $500m in Israel

BDO Ziv Haft managing partner Shlomo Ziv: The investments will be in real estate, infrastructures, and industry.

Customers of accounting firm BDO International BV will invest $500 million in Israel's private sector in the coming months, BDO senior partner Chris Swinson told Minister of Industry Trade and Labor Ehud Olmert yesterday. Swinson did not disclose the customers' names. Swinson arrived on Sunday on his first visit to Israel.

BDO is the fifth largest accounting firm in the world, and the largest after the "big four", with a turnover $2.2 billion a year. Ziv Haft is the BDO representative in Israel.

BDO Ziv Haft managing partner Shlomo Ziv said the investments would be in real estate, infrastructures, and industry.

Olmert promised to help foreign investors on taxation, regulation, and relaxation of bureaucratic procedures, but declined to give specifics.

Published by Globes [online] - www.globes.co.il - on January 6, 2004

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