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Israel has become a major international center for software design and development. The world's largest computer companies, including Microsoft, IBM, Compaq, Hewlett Packard, National Semiconductor, Motorola and others, take advantage of the country's ability to conceive new technologies and products, or design packages to order using ingenuity, speed and flexibility when confronted with difficulties. IBM employs 400 scientists and engineers at its design facility in Haifa, while also in Haifa, Microsoft set up its first research and development facility outside of the US. Motorola and National Semiconductor have major design centers in the country, while Intel maintains its largest R&D center worldwide in Israel. Dozens of Fortune 500 companies can be counted among the clients of Israeli software houses and software start-ups, including Air France, AT&T, Berlitz, Chrysler, Deutsche Aerospace, Dunlop, Ford, Philips, Samsung, Siemens, Southwestern Bell, Toshiba, the central banks of France and Japan, to name but a few. Worldwide recognition for Israeli software has not only originated from its customers but also from the international financial community. Overseas interests have invested billions of dollars in the country's software houses through dozens of public offerings on American stock exchanges. Israeli companies have also issued shares on European markets. In addition, many investors worldwide have bought into Israeli companies, either through direct investments or through the many venture capital funds operating in Israel. This has been illustrated by the more than a dozen Israeli software houses that have been acquired over the last few years by leading international companies. The end of the Arab boycott has encouraged companies in the Far East, Europe and America to consider afresh investment strategies and joint venture opportunities in Israel. Some companies see Israel as a potential base for Middle East operations, while at the same time take advantage of Israel's unique tariff free access to both the European Union and North America, Israel is the only country worldwide to be both an associate member of the EU and enjoy free trade agreements with the US and Canada. |
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