Israel Rogosin, American Jewish industrialist and a leading private investor in Israel, today issued a statement here reporting his decision to defer further investments in Israel and to postpone his moving to Israel for permanent settlement there.
“It is a change of mind–not a change of heart,” he declared. He said he had decided to change his plans to settle in Israel now even though he had already sold his home in America. He was deeply disappointed, he explained, by the lack of receptiveness to his continued plea for a sounder approach to the encouragement of private foreign investment.
He stressed that he had attempted to set an example of how basic industry could be developed in Israel on a profitable and sound economic basis without government subsidies and protective tariffs. He had hoped that by this example he could induce companies in other fields to participate in similar investments in Israel, he pointed out.
Mr. Rogosin said he strongly felt that the time had come for Israel to move away from joining forces with manipulators and promoters to make a “fast buck. ” Until his views fall upon more receptive ears than at present he was unwilling to expand his investments in Israel, Mr. Rogosin stated. He emphasized that his decision was by no means final, and that he would return to Israel shortly to review the situation.
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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.
