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PM Netanyahu at Davos World Economic Forum Photo by: Haim Zach, GPO
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PM Netanyahu at Davos World Economic Forum

21 January 2016

Prime Minister Benjamin Netanyahu, today (Thursday, 21 January 2016), at the World Economic Forum in Davos, held a unique meeting on advancing cyber defense with managing directors and senior figures in the global cyber industry, including from Sony, Hitachi, Lenovo, Intel, IBM and Hewlett Packard. Participants discussed cyber threats and their implications on the development and assimilation of innovative technologies, the economic, social and strategic risks posed by these threats and the unique cooperation required between governments and the business sector in order to be prepared to ensure the ability to use the cyber revolution for the benefit of global social welfare and economic growth.

Prime Minister Netanyahu emphasized that the rapid development of cyber is creating unprecedented opportunities for human society and the global economy and said that cyber has substantially changed basic elements of our lives both as individuals and nations. In the new age, it is cyber defense that makes the future possible and constitutes a precondition for growth and security. In light of this understanding, Israel has set for itself being a cyber power as a top priority, this by becoming a global cyber greenhouse – in which the spirit of innovation and technological assets create pioneering strategies and solutions for Israel and the world. The Prime Minister noted that Israel is carrying out various improvements in order to reduce the organizations' vulnerability to cyber threats and referred to the establishment of a national cyber defense authority that is working with the private sector on an ongoing basis even as it leverages the capabilities and know-how of the defense establishment.

The company leaders expressed appreciation for Israel's cyber activity; Prime Minister Netanyahu invited them to invest in Israel and join the cyber companies that are already in Israel.

Prime Minister's Office Director General Eli Groner, Israel National Cyber Bureau (INCB) Head Dr. Eviatar Matania and National Economic Council Chairman Prof. Avi Simhon also participated in the meeting.

INCB cyber industry data for 2015:

Exports – approximately $3.5 billion, or around 5% of $75 billion global market. Regarding products only, Israel's share is approximately 7%.

Private investments – Estimated at $500 million, more than double the figure for 2014. Esimates on global private investments have yet to be issued. As of the first half of 2015, Israel's share was almost 20% (second to the US). It is not expected that this will change significantly vis-à-vis he entire year.

Mergers and acquisitions – Estimated at $1.3 billion, almost double the figure for 2014.