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Only $30,000,000 Invested by Foreigners in Israel; More Protection for Investors Sought

Dr. Abraham Granovsky, world head of the Jewish National Fund and a member of the Knesset, speaking at a session of the Israeli Parliament, revealed that only 10,000,000 pounds–about $30,000,000–has been invested to date in Israel by foreign investors.

Dr. Granovsky recommended that the government enact legislation guaranteeing full protection to foreign investors. He pointed out that the use of electric power for industrial purposes has declined since 1947. He also urged the government to take over some of the duties of the Jewish Agency with regard to new immigrants, stating that the Agency alone is unable to cope with the problems of immigrant absorption.