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Foreign Jews Invest More Than $100,000,000 in Israel Enterprises in Two-month Period

A total of 519 enterprises which enjoy special rights in relation to taxes and the export of profits in foreign currency were organized between April and June, 1951, and an additional 399 businesses have already received government approval, it was announced here today by the Ministry of Trade and Industry.

The announcement added that a total of 74,000,000 pounds ($207,000,000), half of which was invested by foreign Jews and half by Israelis, has been invested in the 519 companies already organized, Enterprises involved in the manufacture of products which will either earn foreign currency or will save Israel foreign currency by producing goods now imported are given “approved” status, with its concomitant advantages.