JERUSALEM (May. 21)
More than 400 foreign businessmen from 27 countries are attending the Jerusalem Economic Conference which opened here last night. They include steel magnates from West Germany, representatives of major electronics firms in the U.S., bankers, leaders of the automobile industry in Europe and a variety of businessmen from South Africa. Most are not Jewish.
The conference, toward which the government allocated about $700,000, is aimed at inducing foreign investments in Israel. The delegates will be addressed by Israeli leaders representing the government and the opposition and will mingle with about 200 Israeli businessmen at various local industrial plants.
The conference is the third major international get-together in Israel for economic cooperation. The first was held in 1968 and the second in 1973. At a preliminary press conference Friday, Minister of Economics Yaacov Meridor noted that Israel’s 400-plus percent inflation rate did not frighten away the participants.