Business investments in Israel by American and Canadian firms are expected to reach a new high in 1962 of $120, 000, 000, Israel’s Economic Minister to the United States and Canada, Aryeh Manor, said here today in an address before the International Division of the American Management Association at the Hotel Astor. United States and Canadian investment in Israel in 1960 reached $76, 000, 000. In 1961, investment increased to $94, 000, 000.
The AMA conference addressed by Mr. Manor is part of a three-day seminar being held on “How To Do Business In and With Israel. ” The seminar ends tomorrow, Mr, Manor reported that “more than 200 American firms now have business investments in Israel.
He credited the continuing rise in American investments to two factors. The first is Israel’s 1959 Law for the Encouragement of Capital Investments, which, he said, offers investors many benefits, including the rights of withdrawal of 100 percent of profit and capital in dollars, as well as highly attractive tax benefits and incentives. ” The second factor cited by Mr. Manor was the establishment in 1960 of the Government of Israel Investment Authority for North America, which has offices in nine major cities throughout the United States.
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