Investment in Israel industry to enable expansion of exports and elimination of the country’s adverse balance of payments was urged today by Pinhas Sapir, the Minister of Commerce and Industry, when he received the Canadian national leadership mission now touring Israel to obtain a first-hand view of the country’s situation. He set the export goal at 1, 200, 000, 000 pounds annually. ($666, 667, 000).
He described Israel’s “Third Arm” plans to develop the country’s economy by promoting direct investments from abroad in specific enterprises, both existing and contemplated. He said North and South America, South Africa and Europe were the likely areas for inception of this program.
Dr. Dov Joseph, treasurer of the Jewish Agency, told the 50-man mission yesterday that before Israel was fully established, another ten years would have to pass and another two million people settle here.
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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.
