A proposal to convene an international conference of businessmen, economists and industrialists to discuss ways and means of attracting private capital to Israel received the backing of the World Confederation of General Zionists at a meeting of the executive of the Confederation, held here and presided over by Dr. Emanuel Neumann, president.
“Such a conference,” the World Confederation declared in a resolution, “should be convened under the joint auspices of the Jewish Agency and the Government of Israel. It would serve as a great stimulus to the flow of private capital to Israel and would be of immense aid in bolstering the economy of the Jewish State.
“It is obvious by this time that philanthropic funds, plus funds derived from the sale of Israel bonds, will not suffice in view of the possibility of a vastly increased immigration into Israel,” the resolution continued. “Moreover, if the projected conference is to succeed, it must concern itself seriously with basic economic problems in Israel and recommend ways and means of creating a new climate more conducive to the growth of private enterprise and the attraction of private investors from abroad.”
At the same time, the World Confederation, in another resolution, warned against “any encroachment by the Israel Ministry of Commerce upon the prerogatives of the Jewish Agency in this field, which would be in contradiction to express provisions in the charter under which the Jewish Agency operates.”
Pointing out that immigration of the middle classes from Western countries must not be neglected, despite the present Rumanian immigration, the World Confederation went on record as opposing the liquidation of the loan funds for middle-class settlers established by the Agency in partnership with the Government of Israel. It also called for the continued grant of premiums to new middle-class immigrants who bring $10, 000 or more with them, and protested against their proposed discontinuance on April 1.
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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.
