The Honorable Deputy Prime Minister and Minister of Industry and Trade, my friend Eli Yishai,
The Honorable Minister of Communications, Mr. Ariel Atias,
Director-General of the Prime Minister's Office, Mr. Ra'anan Dinur,
Director-General of the Ministry of Communications, Mr. Mordechai Mordechai,
Chairman of Telecom 2006, former Director-General of the Ministry of Communications, Mr. Uri Yelenik,
Chairman of the Trade Fairs Center, Mr. Tzvika Yemini, and Director-General Amir Tamari,
Recipients of decorations and awards,
Honorable Ministers,
Distinguished guests who have arrived here from many countries,
Distinguished participants of Telecom 2006,

The State of Israel is extremely proud of its telecommunications and electronics industries.  I sincerely hope that Telecom 2006 will present an opportunity for all those who have arrived from all corners of the globe, as well as for local guests, to become acquainted with some of the innovations, achievements and developments which characterize the Israeli – as well as the international – field of telecommunications.  I truly hope that those who are not yet connected with Israel's telecommunications and electronics industries will have a chance to establish roots. 

I would like to briefly address the numerous guests who have come here.  Soon you will see representatives of the Motorola Company, headed by Elisha Yanai, as well as representatives of Intel and ECI, receiving awards here this evening.  I hope I have not forgotten anyone, but if I have, I apologize in advance.

What characterizes these companies is the fact that they have invested in Research & Development centers in the State of Israel.  As a result of these investments, a very important portion of the products which have transformed Motorola and Intel into leading global companies, were developed here in Israel.  As a result, production centers and factories which employ thousands of workers have been established here.  There is practically no large company in the world which does not have a Research & Development center here, serving as a basis for these global companies' technological achievements – a direct result of the developments made here in Israel.

I tell you – take it as personal advice – all the companies which have invested here have made a lot of money.  We are very pleased that outside investors invest here, earn a lot of money and increase their sales worldwide.  Each and every investor in Israel receives a nice package of taxation and economic benefits, which makes their investment competitive on the same level and comparable to any country in the world.

Today, medium-scale investments in international terms – investments in the scope of $150 million – are completely exempt from taxes, both corporal tax and dividend tax, for many years, on condition that they are carried out in national priority areas in the State of Israel.

Only recently, Warren Buffet, one of the world's largest investors, bought 80% of a private Israeli company for $4 billion in cash.  His investment enjoys full exemption from both corporal and dividend taxes.  He will pay zero for all his profits for many years to come. 

We have an interesting combination – I don't want to say exceptional, but certainly interesting – of high technology, innovative skills which compete with the world's largest innovation centers, and an environment which invites foreign investors, embraces them and relieves them of the bureaucracy – and we have bureaucracy, do not think that we don't; we do, but we make supreme efforts to create a bureaucracy-free environment for foreign investors in order for them to produce and develop new products through our highly successful innovation centers, and ultimately – to create bases of production in Israel, which can market the products from here to all world markets.  This is what we are offering you.

Israel is proud of its telecommunications; Israel is proud of its electronic industries; Israel is proud that despite the fact that we are not a large country, we stand at the front line of countries which develop and manufacture the most sophisticated, innovative and interesting products in the field of telecommunications in the world.

I sincerely hope that this Telecom 2006 meeting will provide all those young Israeli minds, as well as our many guests, the opportunity of familiarizing themselves with these industries, becoming acquainted with these innovations, making a connection with the young scientists, the young creators, developers and entrepreneurs, and to invest in Israel, produce in Israel and make a profit in Israel.

In conclusion, I want to thank Elisha Yanai, who is helping, perhaps more than any one else, to promote the reputation of Israel's advanced technology throughout the world.  He is investing enormous energies and showing untiring enthusiasm in bolstering and cultivating Israel's hi-tech industries, as well as a willingness to mobilize – in the name of the nation and on behalf of the nation – anywhere in the world, using his company's reputation, which is a leading name in the world and which is also one of the first companies to invest in the State of Israel. 
I hosted the President of the company who visited here two years ago, and he said to me: Motorola's investment in Israel is the best investment that Motorola has ever made in its history, outside of the United States. 
I think, by the way, that it is also the best investment even in comparison with the company's investments in the United States.  It is not really a special investment – a considerable part of Motorola's achievements in Israel is a product of Elisha Yanai's special personality.

Gentlemen, thank you very much and have a good evening.