10 Friday, March 28, 1975

THE DETROIT JEWISH NEWS

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CALL BUS. MI 4-1930
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Israel to Offer Incentives to Draw Foreign Investors

NEW YORK — Stimu-
lated by the success and
rapid growth rate of tech-
nological industries located
in Israel and their contribu-
tions to the country's econ-
omy, the Israel government
announced that it will offer
new incentives designed to

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attract more foreign compa-
nies to the country.
At present, approxi-
mately 40 leading American
companies have either
science-based subsidiaries
located in Israel or are pres-
ently engaged in joint ven-
tures with Israeli manufac-
turers.
The new benefits which
are being extended to
science-based industries in
the program are as follows:

Seek Narrow Interpretation
of PLO's UN Observer Status

NEW YORK (JTA) — The
Conference of Presidents of
Major` American Jewish
Organizations asked UN
Secretary General Kurt
Waldheim to give the
"strictest possible interpre-
tation" of the "observer sta-
tus" granted the Palestine
Liberation Organization by
the General Assembly last
year.

A conference delegation,
headed by its chairman,.
Rabbi Israel Miller, told the
secretary general at a meet-
ing at the UN that the Jew-
ish community was con-
cerned that PLO
"observers" might be
granted diplomatic immun-
ity by the UN. Rabbi Miller
said later that Waldheim
had "listened seriously" but
made no promise. He also
said that Waldheim indi-
cated that he was "fully
aware" of the damage done
the good name of the UN b:s ,

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• Up to 70 percent fi-
nancing for fixed assets
without any export require-
ments.
• Availability of working
capital loans (at 6 percent
interest) to help finance ex-
ports.
• An automatic rebate of
up to 27 cents for every dol-
lar of export sales.
• Government participa-
tion in the amount of 50 per-

cent towards the cost of in-
research and
development.
Indirect incentives which
have always been offered to
science-based industries in-
• ude: availability of indus-
t'rial parks at low-cost leas-
ing, assistance in industrial
research and development
by world-renowned scien-
tific institutions, competent
and skilled labor force at
comparatively low wages,
and a highly-developed and
modern infrastructure.

dustrial

For those industries
wishing to export, there is
also help in the financing
of production costs and
credit for up to 180 days on
the shipment of goods to
help finance export ac-
count receivables.

the anti-Israel resolutions
of UNESCO.
Rabbi Miller, noting that
the PLO subscribed to mur-
der and violence and re-
garded every Jew as an
enemy, cited a recent state- .
Death hath nothing terri-
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an-sponsored branch of the made so.
PLO that the PLO would
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Rabbi Miller cited a res-
olution adopted by the UN
Conference in Vienna ask-
ing that the PLO "ob-
servers mission" at UN
headquarters in New York
be granted the same diplo-
matic immunities and
privileges accorded the
delegates of sovereign na-
tions.

He said, "We are going to
raise some of these issues
with our government. It is
important that the issue be
raised now, when there is
time to,consider it."

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The members and officers of

Detroit Businessmen's Group
City of Hope

o

49

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CLOTHIER A , <

ask you to rejoice with them
in the blessings for a

May we cordially invite you
to attend our
annual installation of officers dinner-dance
May 18, 1975, Raleigh House

For reservations, please call the City of Hope office, 894-5133