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Special Concessions for American Investors in Textile Industry Announced by Israel

The Israeli Consulate today announced special concessions in Israel to United States investors who wish to transfer funds to Israel through the immediate export of textiles.

The general requirement that 30% of the capital transferred must be in cash has been temporarily waived in the export of textiles on two conditions: 1. The textiles must be cloth and yarn, but not apparel and must be varieties included in the Government’s export plan. 2. Two deadlines must be met: Application for import licenses must be made before August 5, and all shipments must be made before October 1.