Bethel Finance: Concentration c'tee head: Recommendations will be fully implemented

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Committee for Concentration in the Economy chairman Haim Shani told "Non-stop" Radio 103 FM that he believes that the committee's recommendations will be fully implemented. In the interview, which was conducted by Globes' editor Hagai Golan and Rina Matzliah, Shani said, "The committee has been working for a long time to create a long-term process of change. Knesset members have been great partners in the process, especially Finance Committee chairman MK Moshe Gafni (United Torah Judaism), who has been in touch with the committee, and believes this is an important issue."

Do you agree with the claim that without the social protest, the committee would have disintegrated?

"Forgive me for being unromantic, but this is just not true. Anyone who looks at our calendar can see that we began working in June, before the social protest began, and that we have kept to our schedule. We are professionals, and our job is to look at the problematic aspects of the Israeli economy."

Shani emphasized, "In some developed countries, such as the UK, there are no non-financial and financial holdings. Moreover, there are many opportunities in the Israeli market, and business people can invest their money in other areas as well. I cannot know what every business person will do after the recommendations are implemented."

Is there a feeling that these steps might prevent investors from doing business in Israel?

"As part of the process, we also met with foreign entities, some of which expressed views that are completely the opposite of what you are saying. There is a chance that we will see even more foreign investors in the Israeli market."

Did you receive a request to cool things down at some point?

"We were given no hints, no committee members made any requests, and there were no requests not even small ones."

Will it take years to implement the committee's recommendations?

"If you want to make significant changes in society and in the market, you need to be patient. It takes time."

The Concentration Committee presented its final recommendations to the government yesterday. It recommended stricter criteria for defining significant non-financial corporations. It advises that the controlling shareholder of a significant non-financial corporation that also owns a significant financial enterprise, must sell one of them within four years.