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July 23, 1976 - Image 32

Resource type:
Text
Publication:
The Detroit Jewish News, 1976-07-23

Disclaimer: Computer generated plain text may have errors. Read more about this.

32 Friday, July 23, 1976

THE DETROIT JEWISH NEWS

Peace, Tax and Treaty Incentives Encourage Investment in Israel

NEW YORK — The fra-
gility of Middle East politics
notwithstanding, Israel
seems to be re-emerging as
an attractive investment
site for certain foreign
investors, mostly U.S. com-
panies. According to Israeli
officials, incoming foreign
investments, which reached
$185 million in 1973, totaled
a mere $43 million in 1974
and almost ground to a halt
in early 1975, are now on the
upswing. The Israeli Invest-
ment Authority points out
that over 30 firms from the

U.S. alone located or ex- inducements, the easing of
panded plants in Israel last Middle East tensions is the
year and 10 more new pro- major reason why they have
jects are under way. Among taken Israel off the back
those that have expanded burner. Encouraged by the
existing facilities are Miles Egypt-Israeli accord, many
Laboratories, General Tele- firms now see see slow but
phone & Electronics and steady progress in the fur-
Motorola.
ther easing of tensions, in-
Israel's major selling cluding the Palestinian is-
tools are a new tax treaty sue.
with the U.S., its free trade
In stark contrast to many
agreement with the Com- other countries, Israel wel-
mon Market, and a new comes foreign investment.
round of investment incen- There are no limits on the
tives.
percentage of equity owner-
While these are all strong ship that a foreign company
can hold; there is no threat
of the state's taking over
foreign companies; and for-
eign companies that can
JERUSALEM (JTA) — in his address to the Jewish export all or most of their
The United Jewish Appeal Agency Assembly to explain production can obtain very
in the United States and the why he looked to the future generous incentives.
United Israel Appeal in "quite optimistically." His
Export prospects to the
more than 60 other coun- hope, he said, was that the U.S. have been boosted by
tries raised together some coming five years could two recent developments.
$2 billion over the past five bring another doubling in
years — more than double the funds for Israel raised
the sum raised during the by these two principal fund-
raising agencies.
preceding five years.
Dulzin pointed out that
Jewish Agency Treasurer
Leon Dulzin made this point the doubling of income
over the past five years
NEW YORK — Israel's
during the period military industries have
1 occurred
which constitutes the first made great progress since
five years in the life of the they operated clandestinely
reconstituted Jewish before the establishment of
WITH THIS COUPON
Agency.
the state of Israel, turning
WITH ANY MEXICAN
Dulzin submitted to the out hand grenades and
DINNER ($2.16 to $3.50)
assembly an annual budget "Sten" guns. According to
of $502 million for the pre- an advertising supplement
sent years. It has already in "Aviation Week and
been approved by the board Space Technology," Israel
MEXICAN RESTAURANT
of governors and is undergo- now manufacturers over 650
7114 W. 7 MILE
ing final examination by the different items, weapons,
2 Blks. W. of Livernois
assembly finance and weapon systems, munitions
863-0011
Closed Sun. during summer
budget committee before and auxiliary equipment for
And Mondays
going to the assembly plen- ground, air, and navy forces.
ary for final approval.
Israel Aircraft Industries
and Israel Military Indus-
tries are among Israel's
FAMOUS BIG TYME SANDWICHES
largest manufacturers of
r--"--- CHOOSE FROM
military hardware. The IAI
I 10 HAMBURGER GREATS
designed and builds the Kfir
(Young Lion) jet fighter
SAME NOSTALGIC ATMOSPHERE!
plane which can fly faster
SAME GREAT MENU!
than twice the speed of
• CHARBURGERS • STEAK it EGGS
sound. They also manufac-
• DELICATESSEN
ture the "Gabriel," which
EGGS 8 OMELETS SERVED IN A SKILLET
according to the supple-
ment, is the free world's
DELICIOUS PASTRIES GAIORE
only combat proven sea-to-

Dulzin Reports Doubling
of UIA, UJA Contributions

One is the U.S.-Israel tax
treaty that was signed last
November and awaits ratifi-
cation. The treaty protects
U.S. investors from double
taxation, limits withholding
taxes on profits to 12.5%
and guarantees that grants
given to U.S. investors by
the Israeli government will
not be considered income.
For U.S. tax purposes U.S.
investors also benefit from
Israel's status as a less de-
veloped country.
Barring any moves by
Washington to reduce for-
eign tax credits this means
that U.S. firms receive
higher foreign tax credits
for taxes paid to Israel than
to a European government,
for example.
The other development is
President Ford's executive
order, announced in Janu-
ary, that makes Israel

Israel's Defense Industry
Growing, Exports Weapons

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soup and salad bar included

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soup and salad bar included

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sea missile system.
Israel Military Industries
produces such well-known
weapons as the "Uzi" 9mm
sub-machinegun and the
newly developed 5.56mm
"Galil" assault rifle. Among
their other products are an
82mm air-to-ground rocket
system and a 240mm artil-
lery rocket system which
has a range of over 10 kilo-
meters.
Israel's weapon systems
are now competing with
those of other countries on
the international market.
Israel Military Industries
reports that export sales in
the fiscal year ending
March 31, 1976 were in
excess of $50 million.
Israel Aircraft Industries
already is exporting the
"Gabriel" missile system
and the company feels that
the Kfir jet, with its rela-
tively low $4 million price
tag will also become a large
factor in their export sales.

3 Poems by Zelda Landsman
in National Poetry Anthology

Three poems by Mrs.
Harry Landsman, Detroit
poet, have been selected for
inclusion in the ."Yearbook
of Modern Poetry 1976."
Mrs. Landsman has been
writing poetry since her
undergraduate days in De-
troit City College,the prede-
cessor of Wayne State Uni-
versity. Then, as Zelda
Medvedov, before her mar-
riage 50 years ago, she
wrote extensively and has
been writing since. Her
poems appeared in The De-
troit Jewish News and in
scores of magazines.
Three of the six poems
sumbitted by Mrs. Lands-
man were selected for publi-
cation in the volume, which

Studying in Israel

NEW YORK — A total of
1,000 Americans age 13-60
are in Israel participating in
some 23 programs spon-
sored and conducted by the
American Section of the
Department of Education
and Culture of the World
Zionist Organization.

had 40,000 manuscripts to
choose from. Two of those
three poems are re-printed
here:

Meteor

You said,
"Each is a little world alone
revolving
on an axis all its own."

Like a bright meteor
searing its way,
your world left orbit
and the universe today.

(among other countries) eli-
bible for the Generalized
System of Preferences
(GSP). Established by the
Trade Act of 1974, GSP lists
products that can be im-
ported into the U.S. duty-
free.
GSP benefits 2,700 Israeli
products, most notably
metal products, fine chemi-
cals, electronic and electri-
cal products, computers and
medical instrumentation
systems, and textiles. (As
GSP is a reciprical agree-
ment, Israel has reduced
inport tariffs on over 130
US-made items.)
For Israeli-based firms

selling to the European
Economic Community,
Israel's status as an asso-
ciate member, as of July 1,
1975, gives them the bene-
fit of an initial 60% reduc-
tion in EEC customs duties
on all Israeli industrial
exports. By 1977, all cus-
toms duties will be phased
out.
The Israeli Investment
Authority claims that the
EEC accord and the tax
treaty with the U.S. "bring
American industry locating
in Israel closer to the Com-
mon Market than if located
in the Common Market it-
self."

Hijacking and Jewish Lau,

FOX
(Copyright 1976, JTA, Inc.)

BY RABBI SAMUEL

the proper and traditional
Jewish burial.
It is thus obvious that the
Jewish community has had
to face this issue squarely a
number of times in the past.
Yet, each case received indi-
vidual consideration.

Jewish tradition in regard
to dealing with kidnappers
or hijackers requires that an
individual review be made of
each incident and that there
is no blanket rule covering
all cases.
In talmudic literature we
have a strange enigma of
analysis. On the one hand,
redeeming captives
("Pidyon Sh'vuin") is consid-
Americana Complex
ered among the greatest of
1, 2, 3, 4
virtuous deeds (Baba Batra
8a). One may even sell a
Greenfield N. of 9 Mile
559-2730
t THEATERS IN ONE_ BUILDING
Holy Scroll in order to be
able to ransom such a victim
Wed. NTATINEESALL
(Tosafot Baba Bathra 8b).
THEATERS-1 Show only
at 1:00-31
On the other hand, the
amount to which one can go
"MIDWAY" (PG)
in payment is limited "for
the sake of the preservation
"OMEN" (PG)
of order in society" (Gittin,
SILENT MOVIE (PG)
Mishnah 4:6).
Medievalists are well "MURDER BY DEATH" (PG)
aware of the case of the fa-
mous Rabbi Meir of Rut-
BERKLEY 12 NiLilei=dge
tenberg in the 13th Cen-
NIGHTS SUN. THRU FRI. All SEATS $1.00
tury who forbade the com- BARGAIN
No coupons. Coupons good Sat. only with regular
munity to pay the exces- admission price.
sive ransom that was
HELD OVER 2nd WK!
asked for his release lest it
Robert Redford &
unleash a pattern of kid-
Dustin Hoffman in
nappings which would en-
"ALL THE PRESIDENTS
danger the lives of many in
MEN" (PG)
the community.
OPEN at 6:45,
He eventually died in cap-
7:10 & 9:30
Sun Open at 2 pm,
tivity and his body had to be
2:25, 4:45, 7 & 9:30
ransomed in order to receive

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With such a suddeness
your world
was spent,
it took
a part of my world
as it went.

Stage Hog

And now the moon
has taken center stage
demanding
full attention
from the night.
She pushes back
the peppered twinkle
of the stars
and takes command
with her imposing light.

NSATURDAY

JULY 31 at 8 PM
TICKETS $7.50 and $6.50

TICKETS AT THEATRE BOX OFFICE & HUDSON'S

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