JERUSALEM (Aug. 21)
The Zionist Organization of America economic mission which has been studying industrial and business conditions in the Jewish state will, upon its return to the United States, report that conditions are “excellent” for private investments in Israel.
Isador Turover, of Washington, D.C., chairman of the commission, told the press today that after a determined investigation of rumors of discrimination against private investors, the group was “convinced that there is no truth that such a policy exists.” He said that “some minor officials might have been over-zealous in pushing the Socialist Party’s philosophy in the granting of import licenses and foreign exchange requests.” But this situation was “always corrected” whenever the facts were proven.
Mr. Turover said that the members of the commission expect to meet with Finance Minister Eliezer Kaplan later this week and cite to him some instances of favoritism. “But the overall picture is excellent, and we are convinced that the private businessman would do well to invest here,” he stressed.
The Z.O.A. leader also reported that American businessmen will soon help establish three new commercial and industrial ventures in Israel. They will be: a 3,000,000-pound cement factory which will produce 20 per cent of the country’s domestic needs; a factoring corporation to furnish raw materials for local industry’ and market Israeli products in the United States; and, a company which will rent farm machinery to private farmers.