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Israel Considers New Incentives for Investors, Minister Reports

New incentives for investors are being considered by the Israel Government and changes in Israel’s law to encourage investments are also under consideration, Chaim Zadok, Commerce and Industry Minister, said last night.

He told the Economic Committee of Parliament that the changes would apply to foreign and domestic investors alike. He said the rate of amortization for tax deductions would be raised and that credits would be advanced for current capital needs of Israeli enterprises. The Minister added that possibilities of additional incentives for exporters also were being discussed. He said that priorities would be given to enterprises in development areas to create thousands of new jobs.