Bush And Paulson Comment On Foreign Investment In United States

by Mike Godfrey, Tax-News.com, Washington

24 January 2008

US Treasury Secretary Henry Paulson this week commented on an Executive Order put in place by President George Bush, concerning national security as it relates to foreign investment in the US.

In a statement on Wednesday, President Bush announced tha:

"This week, I issued an Executive Order reforming how the United States reviews national security concerns that may arise from foreign investments, in light of the Foreign Investment and National Security Act of 2007."

"The Executive Order furthers the goals of the new law by ensuring that the Committee on Foreign Investment in the United States will review carefully the national security concerns, if any, raised by certain foreign investments into the United States."

He concluded:

"The Executive Order reaffirms our commitment to open economies and our policy of welcoming foreign investment and the important economic benefits that such investment brings. At the same time, the Executive Order sets forth procedures for protecting our national security, recognizing that our openness is vital to our prosperity and security."

Paulson responded:

"Foreign investment plays an important role in maintaining America's economic strength. When foreign companies invest in the United States, they are sending a clear signal of confidence in the American economy and American workers."

"The President's Executive Order this week strengthens the process of the Committee on Foreign Investment in the United States (CFIUS) and will ensure that all appropriate federal agencies rigorously review potential foreign investments with national security implications."

"The Executive Order makes clear that America remains open to investment, consistent with the protection of our national security."

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