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Increase in U.S. Investments in Israel Foreseen for 1953

A “substantial increase” in the number of American businessmen making investments in Israel in 1953, was predicted here yesterday by Dr. Ernest Aschner, economic expert and editor of “Economic Horizons,” published by the Jewish Agency, addressing more than 300 representatives of Hadassah. Israel, he said, would achieve full economic independence by 1960.

Dr. Aschner stressed that “the recently-formed Israel Government coalition, as its predecessor, has re-emphasized the role of private capital and initiative and is further improving the inducements and benefits Israel offers to foreign investors. ” He noted that more than one-third of the foreign capital in Israel today has been invested by Americans and expressed the belief that this percentage would increase considerably in the near future.

Pointing out that private capital was responsible for the establishment of 706 out of 756 new industrial and service enterprises in Israel, Dr. Aschner reported that “many additional American investors are at this moment establishing new enterprises as well as assembly operations or branch factories in Israel. Moreover, ” he added, “artisans and professional men from the United States with small and medium amounts of capital are moving to Israel in increasing numbers to participate in the upbuilding work and pioneering opportunities the young State offers.”

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