Israeli Prime Minister Benjamin Netanyahu revealed on Thursday that the United Arab Emirates, with which Israel signed a peace deal in September, plans to invest $10 billion in the country.

Speaking during a press conference with his Hungarian and Czech counterparts in Jerusalem, Netanyahu said that Israel’s economy would “take a leap forward” due to the investment, and that “specific projects” were already under discussion.

The press conference came just hours after a planned visit to the UAE was canceled due to a delay in obtaining Jordanian permission to traverse its airspace. According to a statement from Netanyahu’s office, the delay was linked to the cancellation of a planned visit to the Temple Mount by the Jordanian Crown Prince due to a disagreement over security arrangements.

“It took us a good couple of hours to set things straight with Jordan,” he said. “We can fly, and I can fly over Jordan, but [due to the delay] until this coordination was achieved, today’s visit was not possible,” he added.

“Accordingly, I just spoke with Sheikh Mohammed bin Zayed, a great leader, the leader of the UAE, and we agreed on three things: One, to carry out another visit soon; two, to advance the ‘Green Passport’ [program] between Israel and the UAE; and three—and this is very important news for the citizens of Israel—regarding the UAE’s intent to invest, by various means, the staggering sum of $10 billion dollars in Israel,” he said.

Earlier on Thursday, the Czech Republic opened a branch of its Israel embassy in Jerusalem in a ceremony attended by Czech Prime Minister Andrej Babiš and Israeli Foreign Minister Gabi Ashkenazi.


Jewish News Syndicate

With geographic, political and social divides growing wider, high-quality reporting and informed analysis are more important than ever to keep people connected.

Our ability to cover the most important issues in Israel and throughout the Jewish world—without the standard media bias—depends on the support of committed readers.

If you appreciate the value of our news service and recognize how JNS stands out among the competition, please click on the link and make a one-time or monthly contribution.

We appreciate your support.