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US govt seeks investment by China firms

(Xinhua)
Updated: 2009-09-15 08:57

CHICAGO: The US government welcomes Chinese companies to invest in America and provides help through its "Invest in America" and "Access America" programs, William Zarit, deputy assistant secretary at the Department of Commerce said Monday.

Zarit spoke to over 300 American and Chinese business people, including a business delegation from China consisting of over 175 senior corporate executives, during the US-China Economic and Trade Cooperation Forum held here on Monday.

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He introduced a US government program called "Invest in America" which is dedicated to promoting and supporting foreign direct investment in the United States.

It is the primary US Government mechanism to manage foreign direct investment promotion. Efforts are focused on outreach to foreign governments and investors, support for state governments' investment promotion efforts, and addressing business climate concerns by serving as ombudsman in Washington for the international investment community.

Zarit said that any Chinese companies interested in investing in the US should get in touch with "Invest in America" program for advice and help. He further explained, "we don't make decisions on where the Chinese companies should invest. But we can help with any federal government related regulations, practices, customs and so forth. "

When asked about his comments on the recent sharp increase in Chinese tire tariff, Zarit admitted that he is not an expert in this area, but he said, "what I am hoping is that because it is such an important commercial and economic relationship between the two countries, that we can work through these issues to the benefit of both countries. "

Zarit is flying to China tomorrow to assume his new position as minister counselor for commercial affairs at the US Embassy in Beijing.

Talking about his new job, Zarit is very excited. He said: "We are going to achieve great things! Our organization the Commercial Service, which is part of the US embassy and consulate in China, promotes US exports and protect US business interests. We also help bring foreign direct investment and will be focusing on some major industries such as green energy, green technology, education and information technology."

The China Council for the Promotion of International Trade, together with the US-China Chamber of Commerce, organized the day-long forum to advance understanding in both business communities of the opportunities and challenges stemming from the global economic crisis.