American businessmen invested $22,000,000 in Israel last year in a wide field including new industries and existing enterprises, the Economic Department of the Jewish Agency reported today. American investments constituted nearly one-third of a total of $70,000,000 in foreign capital invested in Israel last year. Foreign investments during 1950 totaled $50,000,000.
Giving a broad view of the investment picture in Israel, the Jewish Agency said that total investment, of both local and foreign capital, amounted to $154,000,000 in 1951 as compared to $97,000,000 in 1950.
“Though the influx of private investment capital from the U.S. is significant, if does not keep pace with the growth of the population and is therefore far from adequate relative to the needs of Israel and to the almost limitless opportunities offered by Israel’s expanding economic market and her export trade, “the Jewish Agency report emphasized.
It expressed confidence that the recent economic policy announced by Prime Minister David Ben Gurion as it affects the rate of exchange for foreign investments in Israel, would help accelerate the flow of American investments. “Israel is primarily concerned with such investments as will enable her either to acquire foreign currency directly or to conserve foreign exchange through the production of vital goods that otherwise would have to be imported, “the statement said.
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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.
