Contact: Art Ally, Timothy Plan, 407-644-1986
MAITLAND, Fla., April 17, 2018 /Christian Newswire/ -- The modern state of Israel was born on April 18, 1948 after nearly 2,000 years following the Romans' destruction of the temple in Jerusalem in 70 A.D.
"In its seven decades of existence as an independent nation, Israel has stunned the world with its many successes," said Art Ally, CEO and president of the Timothy Plan, a mutual fund family that promotes Biblically Responsible Investing, and introduced one of a very small number of Israeli-focused funds.
This tiny nation of under nine million people – just 2 percent of the Middle East's population – has more scientists and doctors per capita than any other nation. Israel is home to over 2,500 U.S. firms. And in the face of persistent hostility and discrimination, Israel has thrived economically and technologically and is one of America's most important allies.
Israel's GDP grew by 3.4 percent last year, according to the latest annual report issued by the Bank of Israel in March. Overall, the Israeli economy reflects a steady growth in investment and tourism, plus a microscopic inflation rate. U.S. companies account for two-thirds of the more than 300 foreign-invested research and development centers in Israel. Israeli-owned companies are the second-largest source of foreign listings on the NASDAQ after China – more than Indian, Japanese and South Korean firms combined.
The U.S.-Israeli economic and commercial relationship includes "IT, bio-tech, life sciences, health care solutions, energy, pharmaceuticals, food and beverage, defense industries, cyber-security, and aviation, to name just a few sectors," according to the U.S. Embassy in Israel.
Modern Israel has been in the news lately because of the Trump administration's announcement that the United States will recognize Jerusalem as Israel's capital and relocate the American Embassy there from Tel Aviv.
"This was a powerful endorsement of America's premier ally in the Middle East," Mr. Ally said.
For more information on the history of Israel visit timothyplan.com/israel.