Increased private investments are urgently needed to strengthen Israel’s economic structure, according to James N. Rosenberg, American Jewish leader who returned on the S.S. LaGuardia from an intensive tour of the Jewish state.
A director and co-founder of the Palestine Economic Corporation, oldest American development company operating in Israel, Mr. Rosenberg said that as a result of his survey of Israel’s needs and the operations of the P.E.C.’s various subsidiaries, he has drafted several development proposals for presentation to the directors. During his stay in Israel, Mr. Rosenberg conferred with President Chaim Weizmann, Premier David Ben Gurion, Minister of Trade Yaacov Geri and U.S. Ambasador James G. MacDonald. In a statement issued through the P.E.C., Mr. Bosenberg said:
“From Dan to Beersheba, from the Sea of Galilee to the River Jordan, from Tel Aviv to Jerusalem, I have beheld that same miracle of man’s indomitable will which have birth to the United States of America, the will which won Israel’s War of Independence against the terrific adds of powerfully-equipped Arab invading armies, the will which clothes barren mountains and coastal deserts with forests, fields, farms, facteries, villages and cities. At Haifa I watched two crowded ships landing 4,000 of the half million Jews rescued and brought to Israel by the Joint Distribution Committee. I also inspected splendid hospitals maintained by the J.D.C.
“As honorary chairman of the Joint Distribution Committee I was particularly interested in seeing and studying the notable results of 25 years of constructive business activities by the J.D.C.’s partner in economic matters, the Palestine Economic Corporation. Such healthy work must be expanded. Numerous sound opportunities await investors in rapidly-growing Israel. I am satisfied that foreign capital can count on fair treatment. To share in upbuilding Israel’s ancient land, reborn and revived by Jewish toil and treasure, brawn, brains and blood, is not only a ##ivilege, but insurance that Israel, champion of freedom and human rights, shall be a strong bulwark of democracy,” Mr. Rosenberg emphasized.
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