DarK-LorD
BANNED
- Joined
- May 2, 2011
- Messages
- 1,753
- Reaction score
- 0
US seeks more FDI from India,China to create jobs
Washington: Americas top business and political leadership has sought more investments into the country from India, China and Brazil so that more jobs could be created in the US.
Our direct investment from places like China, India, Brazil, the people that really have a hot hand today, are minuscule, almost non-existent, and theres no reason why those countries shouldnt be investing more broadly in the US than they are today, said Jeffrey Immelt, Chairman and CEO of the General Electric Company.
Responding to the visa concerns, Hillary Clinton said the US is now putting lot of emphasis in addressing this issue
I totally believe that if we have more foreign direct investment from India and China and those places in the United States, we wouldnt have as many issues as we have, he added.
Immelt and others expressed their views on the issue at Fridays discussion at Presidents Jobs and Competitiveness Council with the Secretary of State Hillary Clinton and the Acting Secretary of Commerce Rebecca Blank.
Antonio Perez, Chairman and CEO, Eastman Kodak Company argued that the US became the largest economy of the world simply because it was the best place to invest and to grow.
We still have, as has been said here before, the largest investment in the world. But the trends are really troubling: from the late 90s, 25 percent of the global investments in the world; now were only 12 percent, he said.
Perez added, Even more troubling than that is the fact that out of the 12 percent, only 2 1/2 percent comes from the combination of Brazil, India and China. Obviously that does not bode well for the future of our country.
Meanwhile, Blank said, that US currently has $2.3 trillion of Foreign Direct Investment in America. These companies pay higher wages on average, and their investments are supporting more than 5 million jobs through 50 states.
So, increasing that is obviously important, she said. In 2009, the US attracted 12 percent of total global investment, down from 25 percent over a decade ago. And thats despite having the worlds largest consumer market, a highly educated workforce, strong intellectual property protection and fluid capital markets. In the face of increased competition, we need to step up our game, Blank said.
Participants at the discussion sought visa reform from the State Department. Responding to the visa concerns, Clinton said the US is now putting lot of emphasis in addressing this issue. We have put a lot of time and attention into the emerging markets because, in Brazil and China for example, theres an enormous demand, appetite for visas, she said.
Clinton added, So weve shifted resources, weve opened longer hours, weve done everything we can to accelerate the consideration of visas. And weve made progress. We have increased the numbers, weve cut the time. So in that arena, we are making incremental progress.
PTI
US seeks more FDI from India, China to create jobs | Firstpost
Washington: Americas top business and political leadership has sought more investments into the country from India, China and Brazil so that more jobs could be created in the US.
Our direct investment from places like China, India, Brazil, the people that really have a hot hand today, are minuscule, almost non-existent, and theres no reason why those countries shouldnt be investing more broadly in the US than they are today, said Jeffrey Immelt, Chairman and CEO of the General Electric Company.
Responding to the visa concerns, Hillary Clinton said the US is now putting lot of emphasis in addressing this issue
I totally believe that if we have more foreign direct investment from India and China and those places in the United States, we wouldnt have as many issues as we have, he added.
Immelt and others expressed their views on the issue at Fridays discussion at Presidents Jobs and Competitiveness Council with the Secretary of State Hillary Clinton and the Acting Secretary of Commerce Rebecca Blank.
Antonio Perez, Chairman and CEO, Eastman Kodak Company argued that the US became the largest economy of the world simply because it was the best place to invest and to grow.
We still have, as has been said here before, the largest investment in the world. But the trends are really troubling: from the late 90s, 25 percent of the global investments in the world; now were only 12 percent, he said.
Perez added, Even more troubling than that is the fact that out of the 12 percent, only 2 1/2 percent comes from the combination of Brazil, India and China. Obviously that does not bode well for the future of our country.
Meanwhile, Blank said, that US currently has $2.3 trillion of Foreign Direct Investment in America. These companies pay higher wages on average, and their investments are supporting more than 5 million jobs through 50 states.
So, increasing that is obviously important, she said. In 2009, the US attracted 12 percent of total global investment, down from 25 percent over a decade ago. And thats despite having the worlds largest consumer market, a highly educated workforce, strong intellectual property protection and fluid capital markets. In the face of increased competition, we need to step up our game, Blank said.
Participants at the discussion sought visa reform from the State Department. Responding to the visa concerns, Clinton said the US is now putting lot of emphasis in addressing this issue. We have put a lot of time and attention into the emerging markets because, in Brazil and China for example, theres an enormous demand, appetite for visas, she said.
Clinton added, So weve shifted resources, weve opened longer hours, weve done everything we can to accelerate the consideration of visas. And weve made progress. We have increased the numbers, weve cut the time. So in that arena, we are making incremental progress.
PTI
US seeks more FDI from India, China to create jobs | Firstpost