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Jersey, Israel Explore Business Synergies

Thursday, May 26, 2011

A high level delegation from Jersey visited Israel as part of a three-day visit, concluding on May 24, to promote the island and drum up interest from businesses and individuals in investing in the island.

The visit, which started on May 22, was headed by the island's Economic Development Minister, Alan Maclean, and Freddie Cohen who is both Assistant Chief Minister and leads international relations discussions. The meetings encompassed business, political and cultural discussions at meetings in Tel Aviv and Jerusalem.

Reporting after the first day, the government said that members of the delegation held a number of meetings promoting the island as an e-gaming domicile. The delegation met with the Chief Executive Officer of Playtech, one of the e-gaming industry's leading software development companies, and with other prominent industry players in Israel. During the meeting with Playtech's CEO, the delegation highlighted the establishment of Jersey's e-gaming licensing regime, which passed into law in March 2011.

“We are now in a position to offer a highly competitive, sophisticated and well-regulated environment for e-gaming business. We are taking the opportunity while in Israel to meet with some of the world’s largest e-gaming companies and to raise awareness of Jersey’s unique position as a hub for European operations," explained Maclean.

On the second day meetings included a visit to the newly-opened Tel Aviv Stock Exchange, and to the country's legislative assembly, the Knesset.

On the final day, Maclean met with Deputy Finance Minister, Yitzak Cohen, and Finance Ministry Director General, Haim Shani. Together with Cohen, he also met with Deputy Director General of the Ministry of Public Diplomacy, Daniel Seaman, and Foreign Trade Spokesman at the Ministry of Trade, Itai Melchior.

“We anticipate it will be of great benefit to the island that we have been able to engage in positive meetings with so many senior figures in the Israeli government. Israel is a fast-growing economy and an increasingly important global market for finance and high tech – it's the right time to be strengthening our ties with the country and opening up new opportunities," Cohen explained.

Maclean added: “We have attended a number of meetings with some of Israel’s leading financial services companies and legal firms, including Bank Leumi, whose base in Jersey makes it a valued local employer. We look forward to building on this important relationship, and to continuing other productive dialogues that we have established during our time here.”