The Investment Authority in the Ministry of Economy will allocate the budget during 2020 for the purpose of implementing advanced production technologies in industry throughout the country in the main track and will operate two high-speed tracks to support digitization and automation throughout the country.
The Investment Authority in the Ministry of Economy and Industry will assist industrial enterprises to make the transition to Industry 4.0-based production by participating in the risk involved in implementing advanced technologies.
Technological development in recent years, also known as the “Fourth Industrial Revolution” (industry 4.0), connects the physical space, the online (digital) space and the human space. This development changes the conventional design and production processes into smart processes that focus on information flow, connectivity or monitoring, collection and analysis of production data for the purpose of creating value in the production processes or supply chain.
Accordingly, a CEO directive 4.54 was formulated to assist in the implementation of advanced production technologies in the plant or in a production line in the plant for the purpose of improving the business results of the plant throughout the country.
40% of the total budget will be allocated to applications in the main route. The rest of the budget will be allocated to the fast lanes.
Dr. Nahum Itzkovich, Director of the Investment Authority in the Ministry of Economy: .
An advanced production track allows ordinary industrial plants to make a leap forward in their production processes. This is a rare opportunity, as the track is also designed for industrial plants across the country. Also, there are no export requirements that exist in the incentive law tracks. Factories that will move to advanced production will develop competitiveness capabilities and strengthen their ability to survive the waves of change currently affecting the industry. I call and ask the manufacturers who want and can, dare and enter the process of advanced production, we will help as best we can. I turn to the manufacturers again, do not hesitate, do not waste the opportunity to think differently. Those who do not move forward will be left behind and it is doubtful whether they will survive and succeed. “
