One of Liverpool’s leading Jewish figures has been tasked by the Prime Minister to deliver what is claimed to be the UK’s largest planned national business event since the 1950s.

Max Steinberg, chief executive of Liverpool Vision economic development company, is chairing the steering committee for the International Festival for Business next year in Merseyside. Prime Minister David Cameron launched the initiative with Mr Steinberg earlier this month.

The 60-day festival will host 500,000 business leaders, investors and companies from 125 countries, and will also showcase UK businesses. Mr Steinberg said the Israeli ambassador to the UK, Daniel Taub, has already agreed to meet to discuss Israeli participation.

Mr Steinberg, who is also chair of governors at Liverpool’s King David High School, said that the last time a business festival took place on this scale was the 1951 Festival of Britain, designed to boost post-war recovery.

He said: “I have to ensure that this festival demonstrates that the UK has a huge amount to offer in international markets, and we are expecting to promote £100m of inward investment as a result.

“We are certainly targeting Tel Aviv as a city we would like to see represented. There are major strengths in the Israeli economy. Currently Liverpool is in early stage discussions with a group of Israeli firms on a joint biomedical agenda.”