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Despite Netanyahu's statements, in the cool of the emirates: investing in Israel is only a preliminary examination
Netanyahu announced that Abu Dhabi's heir had "volunteered" to invest $ 10 billion in Israel.
UAE officials did not like to become part of the Likud's campaign and issued a clarification statement stating that they are only in a preliminary examination of Israeli law.
Union minister clarified: "Any investment will not be on a political basis"
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United Arab Emirates
Lightning Ravid
Wednesday, 17 March 2021, 10:04 Updated: 13:01
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A promise at every election conference.
Netanyahu (Photo: Official Website, Amos Ben Gershom GPO)
Despite Prime Minister Benjamin Netanyahu's announcements that the United Arab Emirates has pledged to invest ten billion dollars in Israel, Abu Dhabi is cooling its enthusiasm and emphasizing that the issue is in the very early stages of examination.
Although Netanyahu has been declaring this in recent days at every interview and election conference, the Emirates emphasize that no money has been allocated for the matter at all.
Last week, after his trip to Abu Dhabi was canceled, Netanyahu announced that he had spoken with the regent, Sheikh Muhammad bin Zayed, and that the latter had pledged that his country would invest ten billion dollars in Israel.
The issue became a key message in the Likud's campaign.
In interviews and election rallies, Netanyahu went a step further, claiming that Ben-Zayed "volunteered" on his own initiative to propose the investment and that he did so "because he believes in my economic policy" and that this would not happen if there was another prime minister.
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"Believes in my policies."
Ben Zayed (Photo: Reuters)
UAE officials were surprised by Netanyahu's remarks, which they considered to be exaggerated and inaccurate.
Israeli sources involved in the matter said that after the cancellation of the visit, Netanyahu was the one who requested that the emirates publish an announcement regarding a possible investment in Israel.
The United Arab Emirates has announced that it will consider such an investment, but Netanyahu has already claimed that they have committed to investing and created the impression that this is going to happen in the near future.
UAE officials felt that Netanyahu was using them again for his election campaign and decided to issue a clarification statement.
The Minister of Industry and Technology, Sultan Jaber, who is considered one of the leaders of economic policy in the Emirates, emphasized in the announcement that the investment is only being examined and that if it happens it will be on the basis of economic viability and not on a political basis.
"We are at a very early stage in examining the laws and policies in Israel regarding foreign investment and we are examining what agreements need to be signed to protect our investments," Jaber said in a statement.
"We are in the very initial stages and there are many issues that need to be examined before we make investments in Israel."
One of the problematic points is that so far no agreement has been signed to exempt double taxation for investors from the United Arab Emirates, which will not allow the emirates to advance to investments in Israel.
So far it is still unclear whether Netanyahu will fly to the UAE before next week's election.
Israeli officials say Netanyahu is still trying to arrange a visit to Abu Dhabi and now the time to visit is this coming Friday.
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