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Israel Government Willing to Sell Its Shares in Private Industries

The Government of Israel is willing to sell to foreign investors in its own shares in private industry in Israel, Levi Eshkol, Finance Minister, announced today. The government originally went into business because these industries, in their initial stages, could not round up sufficient private capital. He said that the government had invested $30,000,000 in chemical and fertilizer enterprises.

Addressing a group of Canadian visitors, Mr. Eshkol stated that private capital might be interested now that such industries, largely basic, were established and operating effectively. The Israel Government, he said, would accept private capital investors as partners or sell government-owned shares outright. Money obtained through such sales would be used for government investment in new enterprise.