JERUSALEM, June 24 (Xinhua) -- Israel's Ministry of Economy and Industry said on Sunday that a service aimed to ease the investment process has benefited 104 multinationals and foreign investors.
In 2016, the ministry established a center called "Invest in Israel," a one-stop shop to cut red tape for potential investors, as part of the government's efforts to remove regulatory barriers for foreign investors.
In the first quarter of 2018, 32 companies approached the center, while the number was 10 a year ago.
"The service center for foreign investors has so far received more than 140 requests from investors for assistance at the beginning of the investment processes in Israel," Economy Minister Eli Cohen said in the statement.
A third of the requests were about removing obstacles of working with regulators in Israel, according to the statement.
It is the first time the ministry has released the center's activity figures, as well as information about what the types of requests received and the services it is providing.
There are currently 300 active multinational companies in Israel, which the ministry says "significantly contribute" to Israel's economy by creating new jobs and developing peripheral communities.
