The Ministry of Economy was founded at 1949 as the Ministry Industry and included divisions and units related to commerce and employment as well.
Roles and Responsibilities
The Ministry changed its name several times to reflect changes in responsibilities and emphases over the years for various political and functional reasons.
During the first thirty years of its existence, the ministry was named The Ministry of Commerce and Industry. In 1978, the name changed to the Ministry of Industry, Trade and Tourism. Three years later, a separate Ministry of Tourism was established and the ministry was renamed once again, becoming the Ministry of Industry and Trade, a name that indicated the priority given to industry over trade.
In 2003, Ehud Olmert was appointed Minister of the expanded ministry that now also included the Ministry of Labor (which had previously been part of the Ministry of Labor and Welfare) and the ministry became the Ministry of Industry, Trade and Labor. In 2013, Naftali Bennet was appointed the minister and the ministry name had changed to its current name, the Ministry of Economy.
The Ministry of Economy is a major, leading economic entity within the Israeli government that aggregates many tools designed to encourage economic growth in Israel, develop human capital and promote international trade and commerce. The ministry focuses on enhancing and realizing the potential of Israel's human capital, enforcing compliance with legislation, and initiating new legislation related to employment, consumerism, international commerce, trade restrictions, safety, education, research, development, innovation, cost of living, and more.
The roles of the ministry have changed over the years and its name changes reflected them. The ministry's roles include creating workplaces, particularly in national priority areas and for special populations such as the ultra-orthodox, minority groups, single parents and the disabled. In addition, the ministry strives to increase exports in order to promote economic growth, expand investments in the industries, research and industrial development; develop tools to fund and support industries, businesses and investors; raise consumer awareness; enforce rules of fair trade; develop human capital, the education system and technological training; increase availability of day care centers and nurseries; and tighten enforcement of labor laws and of health and vocational safety, including at sports facilities.
The Ministry of Economy ancillary units includes the Israel Laboratory Accreditation Authority, Consumer Protection and Fair Trade Authority, National Physics Laboratory, Israel Diamond Institute, Israel Export Institute, Israel Institute for Occupational Safety and Hygiene, and the Israel Employment Service.
Contact :
Dr. Shai Moses |
Consul for Trade and Economic Affairs
Consulate General of Israel in Bengaluru |
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