A marked change in Israel’s business climate “based on the capitalist notion that the assurance of financial profit is necessary to assure a steady stream of investment capital” was observed by Joseph Meyerhoff, president of the Palestine Economic Corporation, according to a statement issued by him today on his return to the United States.
Having consummated three new investments and discussed several major projects in Israel during the past two weeks as PEC president, Mr. Meyerhoff said that private initiative and private capital have made significant contributions toward Israel’s economic progress over the years, and particularly so since he visited the country last, one year ago.
Mr. Meyerhoff commented that Israel’s liberalized “Law for the Encouragement of Capital Investment” which provides for substantial tax and other benefits for foreign investors has materially contributed toward attracting new venture capital. This, in turn, is significantly contributing toward narrowing the country’s foreign trade gap, and absorbing immigrants into productive occupations, he said.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
