Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers the U.S. government, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. He can be reached on [email protected]
President Joseph R. Biden Jr. is expected to promote the United States as a top business destination when he delivers remarks at the 2021 SelectUSA Investment Summit to be held virtually June 7-11, the United States Department of Commerce said on Wednesday.
“Since taking office, President Biden has made our economic recovery a top priority – and growing U.S. trade and foreign direct investment are an important component of that,” U.S. Secretary of Commerce Gina M. Raimondo said in a statement on Wednesday.“I am proud to stand alongside him in making a powerful case to the world that the U.S. is the best place for any nation to do business.”
The SelectUSA Investment Summit has generated more than $48.4 billion in foreign direct investment since inception, and it is supporting more than 45,000 jobs in the United States.
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The Department of Commerce, which announced on Wednesday that Biden will deliver a pre-recorded address at the summit, added that the President will join Cabinet Secretaries, Governors, CEOs, and other public and private sector leaders “eager to strike global business investment deals for the United States and share insights on the latest innovations and trends in an effort to support and create jobs.”
In addition to President Biden, Secretary of State Antony Blinken and Secretary of Transportation Pete Buttigieg will also participate in the SelectUSA Investment Summit. They will be joining Treasury Secretary Janet Yellen, Labor Secretary Marty Walsh, Energy Secretary Jennifer Granholm, Agriculture Secretary Tom Vilsack, Small Business Administration Administrator Isabel Guzman, Governors, top CEOs, and small business leaders for the highest-profile event dedicated to promoting foreign direct investment in the United States.
For nine years in a row, the United States has been ranked by A.T. Kearney as the top place for foreign business investment.
“The Investment Summit provides opportunities to spotlight America’s innovative climate, diversity of resources and robust workforce which can contribute to global success for foreign investors,” the Department of Commerce said in a statement.
It added that the event will promote “four pillars to increase American competitiveness: 1) Revitalizing U.S. manufacturing and developing advanced industries; 2) Building a 21st century workforce; 3) Maintaining leadership in global innovation; and 4) Promoting America, at home and abroad. Biden-Harris Administration priorities will also be discussed, such as the American Jobs Plan, the American Rescue Plan implementation, other COVID-19 economic recovery efforts, job creation, building back better and more inclusivity.”
SelectUSA will also promote and facilitate business investment into the United States by coordinating related federal government agencies to serve as a single point of contact for investors.