Walla: 10% of Investments in Israeli Market to Arrive from UAE

The Israeli website “Walla” said, shortly after the normalization agreement with the UAE was announced, that inquiries began to flow to Israel from investors in the Arab Gulf region, for the purpose of commercial cooperation, which also allows Israelis to attend international conferences only 3 hours away by plane.

Walla predicted that 10% of the investments in the Israeli market will come from the UAE in the coming years.

The website added that the GO account on LinkedIn for digital insurance from the Israeli insurance company "Hachshara" began receiving dozens of cooperation requests.

Walla added, in a high-tech market, that normalization with the UAE has become a reality, and 70 inquiries from businessmen from the UAE have already been counted.

"The UAE ranks 11th in the GDP per capita and is considered one of the richest countries in the world, yet, besides the large capital, there is a great lack of investment in high-tech companies and innovative developments," Walla wrote.

Two days after US President Donald Trump's statement on August 13, the Emirati APEX National Investment company signed a strategic agreement with the Israeli biotechnology company Tera to develop a device to detect coronavirus.

Dubai holds hundreds of technology conferences each year in broad areas such as cloud infrastructure, financial technology and engineering, and according to the site Israeli companies will be able to participate in it, noting that 85% of the investments in Israeli high-tech companies are foreign funds.

The volume of foreign investment in Israeli high-tech companies in 2019 amounted to about $9,5 billion. The source of these investments are mainly from the United States, Europe and China.

"The business potential in digital insurance in the UAE is particularly large and is still in the development stages, and that could be a good opportunity from Israeli companies," the platform pointed out.

Walla says that the world of digital insurance in the Arab world is in its infancy, and it seems that the UAE, which is considered very advanced, is interested in entering this field and learning the technological tools that Israeli companies is familiar with its know how.