Omantribune
Oman Tribune
Omantribune
Omantribune Search News
Web Oman
    Google Search Button
      Tribune
- Oman
- Soccer World Cup
- Other Top Stories
- Middle East
- Business
- Sports
- India
- Pakistan
- Asia
- Europe
- Americas
- Columnists
- Editorial
- Oman Mirror
- Special Features
- Cinema
- PDF Pages
- Weather
- Travel
- Currency Rate
- Hospitals
- Pharmacies
- Services
- Flight Timings
- Museum Timings
Omantribune Home Omantribune About Us Omantribune Advertising Information Omantribune Archives Omantribune Subscribe-Form Omantribune Jobs Omantribune Contact Us
Thursday, October 23, 2014  

US lawmakers seek to boost foreign investment share
WASHINGTON A bipartisan group of lawmakers on Thursday are calling for action to boost the US share of global foreign investment, which has fallen 50 per cent over the past decade as companies pour money into faster-growing economies.  

“We think it’s critical to evaluate what we need to do and how we can actually attract more capital here” because of the role foreign companies can play in creating US jobs, Senator John Kerry, a Massachusetts Democrat, said.  

 Kerry said he was teaming up with Senator Bob Corker, a Tennessee Repub-lican, to introduce legislation requiring the Commerce Department to assess what policy changes are needed to encourage more companies to invest in the United States.  

 “We want to ensure there aren’t barriers out there that are preventing more foreign investment from taking place here grow. It’s as simple as that,” Kerry said.  

 US subsidiaries of foreign companies already employ an estimated 5.3 million workers, or roughly 5 per cent of total private sector employment. Roughly 2 million of the jobs are in the manufacturing sector, and the subsidiaries also account for about 21 percent of US exports.  

But even though foreign direct investment in the United States dipped 4 per cent in 2011, the United States is still the biggest draw for global investors. The $227.9 billion invested last year was more than double what second-ranked China saw, according to the Organisation for International Investment, a US industry group that advocates open investment policies.  

 “Yet, the US share of total world stock in foreign direct investment dropped to 18 per cent in 2010, down significantly from 37 per cent a decade earlier as worldwide competition for foreign investment dollars has increased and multinational companies have expanded investment in developing countries” like China, Brazil and India, the group said in a recent report.  

 Representatives Robert Dold and Peter Roskam, both Illinois Republicans, are working with Representatives Gary Peters and John Darrows, Democrats from Michigan and Georgia, on a companion bill in the House of Representatives.  

 “We are not necessarily the most business-friendly environment in the United States,” in part because of a high corporate tax rate, Dold said. “What this legislation does is respond to the challenge of other countries so hopefully we can get better at attracting foreign investment.”  

He argued a concerted push could be part of broader solution to tackle the United States’ economic woes.  

“At the end of the day, we want to talk about growing the number of taxpayers. That means getting people off the unemployment line into good high-paying jobs,” Dold said.    

President Barack Obama’s Council on Jobs and Competitiveness has already recommended a National Investment Initiative to capture $1 trillion in new foreign investment over the next four to five years. That’s akin to Obama’s National Export Initiative, which hopes to double US exports in five years.  

Reuters
NEWS UPDATES
Oman
Meeting recommends GCC centre for water treatment
Documentary on Oman screened in Paris
Oxy Oman signs deal to back SMEs
70 projects vie for HM e-governance award
Other Top Stories
US strikes hit militia in Kobani, Mosul dam
Canada House locked down, intruder shot dead
Sultanate, Abu Dhabi ink deal for first wind energy plant
Rowhani opposes bill to empower Islamic vigilantes
2 die after Ebola test sparks riot in Sierra Leone
India
Pak troops open fire at border posts ahead of Modi J&K visit
Protests rage in Bangalore as girl, 4, molested
IAF grounds Sukhoi-30 fleet for safety checks
Hindu Sindhis from Pakistan set to get citizenship
Usha to set up school in Gujarat
Indian ‘microfinanciers’ find Philippines fertile for business
UPA minister’s name ‘figures’ on black money list
Companies have to wait till New Year for pricing of non-shallow gas
BJP, Sena revive hopes of coalition government in Maharashtra
Incursion by ‘China during Xi’s visit uncommon’
CPM calls for radical poll reforms
Widows defy taboos to mark Diwali
Pakistan
Qadri announces end to sit-in in Islamabad after 69 days
India aggression ‘will be met forcefully’
US designates TTP leader Sajna as terrorist
Intelligence ties with Iran get fillip after border unrest
MQM walks out of PPP coalition in Azad Kashmir
50pc of female medical graduates ‘don’t work’
Middle East
Four Blackwater guards guilty of ’07 Iraq killings
Unrest-hit Tunisian city sees no peace in sight as clock ticks on poll
Settlers grab land through shady deals
S. Arabia sentences 13 over plot to attack US soldiers
Iran lawyer up in arms over practice ban
Asia
HK talks fail to make headway, clashes continue
North Korea frees detained American, 2 others still held
Nepal calls off search for survivors of snowstorm
US Marine in murder case moved to Manila military base
Australian caught in online child sex sting
Wife ‘orchestrated’ Briton’s Bali killing
Business
MSM surges 120 points on global cues, better earnings
Oil could fall to $70 range in coming months: Moody’s
India may allow foreign firms in commercial coal mining
Wipro posts 8% rise in Q2 profit
Tainted firms feel heat of India ‘clean-up’ drive
DLF seeks relief from market ban
Beijing fears rate cut may fuel debt, property bubble
Japan hit by growing trade deficit
Total appoints new CEO after death of De Margerie
Apec to follow ‘flexible’ policies
Europe
Juncker team gets House nod, to unveil investment package
Personal problems turn Belgians into terrorists
Driver in Moscow plane crash ‘had lost his bearings’
Ocalan upbeat about peace plan as Kurdish stir rages
IRA militants’ sex abuse allegations spark uproar in Ireland
Sports
Champions League throws up goal feast
Modest Guardiola says Bayern can do better
Ton-up Younis stands tall for Pakistan
Johnson not in Akram’s league yet, says Waqar
Utd job too big for Moyes: Alex
Scotland lifts Ghala Valley Open crown
Almouj gear up for NBO Golf Classic
Oman Sail triumph in Sailing Champions League
AIBA suspends boxer Sarita and coaches
Halep leaves Williams embarrassed
Americas
Canada raises ‘terror’ alert after soldier run over in Quebec
Ebola screening tightened at top US airports
Mentally ill Briton pleads not guilty at US terror trial
3 Denver teen girls detained on way to Turkey, sent home
Washington Post ex-editor Bradlee of Watergate fame dies at 93

Sports


International

© 2013 Oman Tribune. All rights reserved. Best viewed in 800 X 600 resolution