The Ministry of Commerce and Industry has proposed to the government that it take special steps to encourage the immigration of middle class elements from western countries to Israel, Zalman Susayeff, Deputy Minister for Commerce and Industry, reported here last night. He also stated that the government and the Jewish Agency were currently cooperating in encouraging such immigration.
He added that his Ministry had also suggested that a special department be organized to study the Israeli industrial scene and find out which types of workshops are needed by various communities. Then, Mr. Susayeff said, investors with a small amount of capital could be directed to such enterprises. The Deputy Minister expressed the opinion that the government’s attitude of encouraging large industry has resulted in the expansion of major industry to the saturation point while a gap has resulted between the country’s need for small factories and investors’ providing such plants.
Mr. Susayeff pointed out that in view of the tightening of the internal market industry should turn its attention to foreign markets. He reported that an experimental effort in this direction last month had produced a significant increase in exports. He urged factory owners to seek foreign investors for partners in order to obtain necessary foreign capital.
Commenting on the recent pegging of the Israeli pound at 1.8 pounds to the dollar, the Deputy Minister said that it would not bring a great rise in the cost of necessities and was a recognition of the realistic relationship between the pound and foreign currencies.
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.
