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Israel will continue to be an important growth center for the global hi-tech industry, no matter who is elected as the country's next prime minister,

Geo Interactive Media Group

(LSE:GIM) CEO Eli Reifman told Cable Network News.

Reifman said that Labor leader Ehud Barak and Likud leader Ariel Sharon both prefer peace to war, and will make every effort to advance the peace process.

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Foreigners looking to invest in Israel may wait to make sure that this is so, but Reifman believes they will continue to invest in leading Israeli technology companies.

The price of Israeli shares is primarily affected by the American economy and not by the political situation in Israel, Reifman pointed out.

He explained that the steps taken by United States Federal Reserve chairman Alan Greenspan, developments in the American economy, and the falling price of stocks on the Nasdaq all affect the price of Israeli technology shares.

The slowdown in the U.S. hurts the value of Israeli companies, the way it affects the price of technology companies worldwide, but Reifman insisted that political uncertainty in Israel hardly affects Israeli shares.