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Reuters
Reuters
Business
Steven Scheer

OECD tells Israel to cut red tape in non-tech sectors to boost productivity

OECD Israel Mathias Cormann Naftali Bennett Jerusalem Menahem Kahana
Israeli Foreign Minister Yair Lapid, Secretary-General of the Organisation for Economic Co-operation and Development (OECD) Mathias Cormann and Israeli Prime Minister Naftali Bennett attend the weekly cabinet meeting at the prime minister's office in Jerusalem February 13, 2022. Menahem Kahana/Pool via REUTERS

Israel needs to cut red tape in traditional industries so they can boost productivity and catch up with the country's booming high-tech sector, the head of the Organisation for Economic Co-operation and Development (OECD) said on Sunday.

Joining Israel's weekly cabinet meeting, OECD Secretary-General Mathias Cormann praised much of Israel's economic progress since joining the OECD in 2010, particularly a robust technology sector, as well as its handling of the latest waves of the COVID-19 crisis without needing lockdowns.

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