38 Friday, July 29, 1983 THE DETROIT JEWISH NEWS Financial Independence Stressed as Goal for Israel by 1990s By ELMER WINTER Chairman, Committee for Eco- nomic Growth of Israel - (Copyright 1983, JTA, Inc.) "Can Israel reach a point where she can go it alone — become independent of American financial sup- port? The answer must be yes. Israel has no choice but to work towards getting out of the perilous situation where the United States can apply pressures against her — haircut LaMont Salon presents $8" haircut performed by our Junior Stylists, under the direction of Artistic Team Members. available Every Monday 9 a.m. to 6 p.m. Now everyone can have the best LaMon t vallablea: Salon 29199 Northwestern Hwy. Southfield, Ml 48034 313/357-2900 thus forcing the govern- ment of Israel to make deci- sions often considered not to be in her best interest. The better part of good judgement requires us to question whether the U.S. will continue to pro- vide loans and grants to Israel of $2.5 billion per year indefinitely. Domes- tic pressures at home are in conflict with Israel's request for long-term funding. An intensive campaign should be undertaken now to make Israel financially inde- pendent of the U.S. After studying the growth of the Israeli economy in some detail, in- terviewing its leaders of commerce and industry and talking with its leading governmental economic of- ficials, I believe that Israel can celebrate its "Economic Independence Day" by Dec. 30, 1990. To make this possible, a new kind of coop- eration between the two countries will be necessary: doing it with the Israelis rather than for them. What is needed, then, is a matching effort, with input by both countries. The key to this cooperation lies, as I see it, in the private sector. American corporations must be encouraged to es- tablish manufacturing plants in Israel, investing their capital (together with Israeli entrepreneurs) and pooling their know-how. The aim would be to in- crease the number of U.S. companies with manufac- turing branches in Israel from 150 to more than 200 by 1990. The increased production for export of such an in- crease would be sufficient to realize the Israeli govern- ment's plan to more than double its annual exports from $5 billion in 1982 to $11.3 billion by the end of 1991. If Israel can meet or exceed that export figure, it will have eliminated its balance-of-payment deficit, provided only that imports are kept under some kind of tighter control and govern- ment spending can be re- duced. To reach the goal of $11.3 billion in exports per year, $1 billion of additional capital must be invested in Israel each year. Some of this capital will no doubt come from Israeli companies and from Americans firms operating in Israel. The balance must come from new enterprises that will open in Israel. To become economically independent by 1990, there must be a reduction in the involvement of the Israel government in the man- agement of productive enterprises. It would also be well for the Jewish Agency and the Israel goyernment itself to sell off some of the • companies they own and op- erate to private entrepreneurs. Many areas of coopera- tion between private U.S. Skillman Grant to Dr. Horwitz to Aid MCF Cancer Research Dr. Jerome P. Horwitz, chairman of the Depart- ment of Chemistry at the Michigan Cancer Founda- tion, has been awarded a $25,000 grant by the Skillman Foundation to purchase state-of-the-art instrumentation needed in cancer research. The Skillman Foundation of De- troit assists religious, edu- cational, charitable and sci- entific organizations. YOUNG? JEWISH? 7-15 YRS.? THINKING About the summertime blahs? WHY? COME & JOIN US FOR SUMMER FUN at and Israeli companies suggest themselves. To deal - with the explosion that has' taken place in the computer industry, Israeli companies offer superb technological skills in software capabil- ity. There is a vast market for Israeli-manufactured home computers. Israeli companies have the know-how to become world leaders in word proc- • essing and robotics, as they have already proven in the area of computer aided de- sign. One way Israeli com- panies can help themselves is to come to the American securities market for finan- cial backing. Approx- imately 12 Israeli com- panies are already listed on American stock exchanges or as over-the-counter stocks. Plans are moving forward to launch a U.S. based mutual fund that would hold Israeli stocks sold in the Tel Aviv as well as the New York and American Stock Exchanges:- The call of financial inde- pendence is realizable pro- vided there is an active joint participation by American and Israeli businessmen supported by the govern- ments of both countries. CAMP TAMARACK & CAMP MAAS! DR. JEROME HORWITZ Dr. Horwitz, in acknow- ledging the grant, said, "The Michigan Canter Foundation can now ac- quire the most modern ul- traviolet, visible and infra- red spectrophotometric in- strumentation." He said, "These analytical tools will enhance our new anti--- cancer drug development program." Nimrod was the mighty hunter of the Bible. Call Fresh Air Society at 661-0600 for further information and assistance. Babies Don't Thrive in Smoke-filled Wombs When You're Pregnant, Don't Smoke! Call Fresh Air Society at 661-0600 for details. Support the March 9tigropeS • ..0 iSt1,R