BDS pressure has led to Intel halting construction of a new $25 billion factory in Israel, sparking concerns that the project may be canceled. The company, while pulling back its investment in Israel, is still complicit in supporting the country’s actions. This decision comes amidst a decline in Israel’s economy, with Moody’s downgrading its credit rating and foreign investors withdrawing billions of dollars from the stock market and bonds. The BDS movement and its allies have been advocating for the cancellation of Intel’s investment in Israel, citing the company’s complicity in the ongoing genocide against Palestinians.
Intel’s withdrawal from Israel is not only a result of the country’s economic challenges but is also expected to have a significant impact on its already struggling economy. The BDS campaign has highlighted the ideological and irresponsible nature of Intel’s investment in Israel, particularly its planned factory near occupied Gaza. Israeli media sources report that senior Intel officials have relocated to Ohio as part of a US program to establish chip factories. This move has been criticized by the BDS movement, which points out the irony of Intel shifting jobs from the US to Israel.
The tech industry in Israel, heavily reliant on knowledge from military units, is facing challenges in raising funds and hiring locally. With Israel’s economy in decline and companies risking complicity in genocide, investing in the country is not only unethical but also financially irresponsible. Despite Intel’s withdrawal from a major investment, it remains a significant investor in Israel’s economy, prompting the continuation of the #BoycottIntel campaign.
In conclusion, the BDS movement’s pressure has led to Intel halting a major investment in Israel, reflecting a broader decline in the country’s economy. Foreign investors are withdrawing funds, startups are struggling, and the tech industry is facing challenges. Companies like Intel risk complicity in Israel’s actions, making investment ethically and financially irresponsible. The #BoycottIntel campaign will persist as long as companies continue to support Israel’s apartheid and genocide economy.
Article Source
https://bdsmovement.net/news/Intel-Halts-25b-Investment-Israels-Sinking-Economy
