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Private Foreign Capital for Israel Not Exhausted, Szold Says

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Private foreign capital for investment in Israel has not been exhausted and would flow into the country if conditions were favorable, Robert Szold, president of the Palestine Economic Corporation, said here at a reception in his honor.

The New York attorney and Zionist leader, here on a visit to inspect P. E. C. operations, said private capital should take a greater part in Israel’s economy after public funds have done the pioneering work. There is still need for public funds, he said, but Israel should strive to be self-supporting. This would enhance the country’s prestige both economically and politically.

Dr. Emanuel Neumann, member of the Jewish Agency Executive and General Zionist leader, expressed fears that the government decision to take over the Palestine Electric Corporation would have the effect of slowing the flow of private capital into Israel. He expressed satisfaction over the positive attitude toward the Zionist movement voiced by Premier Moshe Sharett and said he hoped for a new era in the relations between the Government and the Zionist movement.

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