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100 New Enterprises Granted Preferred Status in Israel; Capitalized at $26,000,000

One hundred new enterprises with a total capitalization of 9,500,000 pounds ($26,600,000) have received a preferred status from the Israel Government under the terms of legislation aimed at encouraging the investment of capital in Israel, it was announced here today.

Since the passage of the special measures three months ago these enterprises, half of whose capital was provided from abroad, have applied to the Government Investment Center and have been certified as “approved” industries–they will either add to Israel’s self-sufficiency or will bring in vitally-needed foreign exchange. Among the special privileges enjoyed by “approved” enterprises are a favorable tax status and the right to export abroad a percentage of the profits earned in Israel.