U.S. businessmen have “discovered a new Israel,” according to a goodwill mission whose members reported on a six-week tour of the United States and Canada at a luncheon of the American-Israel Chamber of Commerce and Industry, at the Hotel Commodore today.
Noting that it was a “misconception” to regard Israel as primarily a recipient of charity, Leon J. Leinkram, general manager of the Manufacturers Association of Israel, stressed that hundreds of would-be investors had welcomed the comprehensive information provided during the tour on investing in Israel. He reported on the widespread interest created by the mission’s meetings and the press, radio and television coverage in over 20 cities, and said that the mission helped correct a number of mistaken impressions among possible investors. Many did not know, for example, that Americans could own majority interests in Israel enterprises and that invested dollars could be recovered in hard currency, he said.
Shimon Horn, U.S. representative of the Israel Government Investment Center said that many would-be investors were impressed by the idea of joint ventures between Israeli and American investment capital, along the lines developed by Vice President Nixon at the recent International Industrial Conference in San Francisco. He said that many at the meetings have come up with their own suggestions and plans for setting up manufacturing plants in Israel these involved textiles, metallurgy, electrical appliances, food processing and building materials.
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