TEL AVIV (Jul. 14)
Israel’s Finance Minister Pinhas Saphir told a group of visiting Americans today that it was his Government’s policy not to go into business but to sell government-owned enterprises to private investors whenever possible. Mr. Saphir, who spoke to the United Jewish Appeal Young Leadership Mission, said that efforts to encourage foreign investments in Israel resulted in the approval of $11 million worth of such investments during the first six months of 1968, four times the number approved during the same period last year.
According to Mr. Saphir, 90 percent of the new investments have already gotten started. Preparations are being made for production and architects are planning their commercial facilities. During the first half of 1967, only $2.8 million in new investments reached the starting stage, he said.