Archive for the ‘Foreign Direct Investment’ Category

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Newly Updated National Export Strategy

January 8, 2013

John Larsen is the Deputy Director of the Trade Promotion Coordinating Committee Secretariat.

2012 National Export Strategy Cover Image

2012 National Export Strategy

The newly updated National Export Strategy Report to Congress highlights achievements of the Obama Administration in this third year of the National Export Initiative and lays out ambitious new plans of the Federal Government in 2013.

The past three years have seen record exports as U.S. companies, workers, and farmers responded to overseas market opportunities. For its part, the Obama Administration improved its promotion of U.S. exports in every area in 2012, including improved trade promotion and advocacy programs, greater access to trade financing, successful removal of trade barriers, and stronger enforcement of trade rules.

Highlights include increased collaboration with U.S. metropolitan areas; secured Congressional approval and the entry into force of market-opening trade agreements with Korea, Colombia, and Panama; improved U.S. supply chain infrastructure, and increased the focus on U.S. travel and tourism.  In addition, agencies are staffing a new Interagency Trade Enforcement Center to level the playing field and enhance the investigation of unfair trade practices.

In the coming year, the Administration will streamline and modernize the delivery of U.S. export promotion services for U.S. small businesses. We are increasing the base of small business exporters through national marketing and training efforts, including outreach to community banks.  We are also improving Export.gov and local export counseling services.

The Obama Administration is also laying the groundwork now for long-term U.S. economic growth and competitiveness. Federal agencies are helping U.S. companies secure infrastructure contracts overseas, strengthening the focus on the Asia-Pacific region, increasing commercial engagement with Africa, and supporting the work of SelectUSA to attract and retain more investment in the United States.

The National Export Strategy is featured on Export.gov and Trade.gov. It can be downloaded here.

Posted in Competitiveness, Exporting, Foreign Direct Investment, Interagency, International Trade Administration, Investment, Manufacturing, National Export Initiative, Services | 4 Comments »

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It’s More Fun in the Philippines

March 26, 2012

This story is part of an ongoing series highlighting the information available to participants in the 2012 Asia Pacific Business Outlook (APBO)

Patrick Wall is Commercial Counselor in the U.S. Embassy in Manila.

This is a great time to look at export opportunities in the Philippines. The Philippines is a market where American products and services are well known and held in high regard, owing to the very close relationship between the U.S. and the Philippines over the past 100 years. U.S. business engagement in the Philippines is longstanding, positive and growing, and American firms play a major role in the economy. 

The Philippines is an archipelago of 7,107 islands, with 92 million inhabitants, and the world’s fourth largest English-speaking nation, with the 14th largest labor force in the world.  The U.S. and the Philippines have US$16.8B in two-way merchandise trade in 2011, and relatively balanced trade flows. The Philippines is ranked as the United States’ 33rd export partner and the 38th import partner.

The U.S. sees the Philippines as a long term business partner. U.S. foreign investment in the Philippines reached was roughly $7 billion by the end of 2011. The U.S. remains the second largest investment partner in the Philippines, accounting for about one-fourth of the country’s Foreign Direct Investment (FDI) stock.  U.S. businesses are present in a wide spectrum of sectors and industries.

In his first 18 months in office, President Aquino’s good governance program has resulted in the filing of corruption cases against several high-profile public officials.  The “2012-2016 Good Governance and Anti-Corruption Cluster Plan,” further identifies specific measures to curb corruption through greater transparency and accountability in government transactions.  Efforts to reign in corruption have, in general, improved public perception though achieving successful prosecutions remains to be a serious challenge to the Aquino administration.

For the fifth consecutive year, the promising market sectors in the Philippines for U.S. companies are information technology, telecommunication, medical, electric power, and water resources, respectively. These sectors are further intertwined in the current Philippine government’s Public-Private Partnership (PPP) program targeting those projects of priority to the government.  The Government of the Philippines actively seeks foreign investment to promote economic development of these PPP projects. 

U.S. investors in the Philippines have been especially successful in the Business Process Outsourcing (BPO) sector.  The top 10 American BPO firms operate in the Philippines.  By the end of 2011, the BPO sector of the economy had created 630,000 jobs in the Philippines.  Did you know that in 2011 the Philippines became the number one offshore site for “voice” BPO employment, taking the mantle from India?

Why it’s more fun the Philippines?   The Philippines has much to offer to American exporters:

  • The Economy – a strong comeback with opportunities in many hot sectors
  • The Location – within four hours of major asian capitals
  • The People – warm, friendly and English-speaking

For more information on doing business in the Philippines, please contact us http://export.gov/philippines/

Posted in APEC, Foreign Direct Investment | Tagged , , | Leave a Comment »

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Connecting U.S. Companies to Opportunities in Iraq

October 6, 2010
This post contains external links.  Please review our external linking policy
 
Francisco J. Sánchez is the Undersecretary of Commerce for International Trade

A Historic Opportunity

This week I led 14 U.S. companies on the first trade mission to Iraq since the end of combat operations. It was very exciting to facilitate the connection between these firms and potential buyers in Iraq. I also met with many of my counterparts to engage and enhance the commercial dialogue between the United States and Iraq.

I am honored to bring with me companies from Washington and California,  New York and Michigan to meet with Iraqi businesses and government ministries who are poised to capitalize on a vast array of infrastructure and construction projects planned in the near future.

Under Secretary Sanchez meets with U.S. Ambassador to Iraq James Jeffrey

Under Secretary for International Trade Francisco Sanchez (l) meets with U.S. Ambassador to Iraq James Jeffrey (r)

Iraq’s government has budgeted more than $80 billion for infrastructure development, including projects constructing highways, railways, telecommunications and defense. Iraq’s private sector also offers opportunities in oil and gas, construction and communications technology.

The United States and Iraq have entered a new phase of commercial engagement, and I am confident that the recent transition will lead to a stronger economic relationship between our two nations. This trade mission that I am leading is a symbol of the U.S. commitment to develop a lasting friendship with Iraq based on mutual respect and shared interests. This marks the beginning of a new commercial relationship between the United States and Iraq.

The unprecedented interest generated by last October’s U.S.-Iraq Business and Investment Conference held in Washington, D.C., and the activities of the U.S.-Iraq Business Dialogue have demonstrated that there is great opportunity for increased trade and investment in the region. Iraq’s GDP has more than doubled since 2006, soaring from $57 billion to $112 billion in 2009

During my time here I’ve met with Deputy Minister of Trade Walid Habib Al-Moswee, Dr. Hussain Al-Shahristani, Iraq’s Minister of Oil and Acting Minister of Electricity, and Dr. Sami Al-Araji, chairman of Iraq’s National Investment Commission. My hope is that the meetings we’ve had will be the first of many in the coming months.

During my meeting with Dr. Al-Shahristani, I advocated for continued negotiations between the federal and provincial governments on energy issues and passage of the Hydrocarbons and Electricity Laws by the Council of Representatives. These actions would establish the rule of law in the energy sector and support a legal and regulatory environment more conductive to international investment in Iraq. 

These reforms should encourage more U.S. companies to enter Iraq, as the reduction in risk and further clarity would lower the costs of operating here.

Some of my discussions with Dr. Al-Araji included the benefits of ratifying several outstanding bilateral agreements that would assist Iraq in achieving a sound investment climate and expanded regulatory reforms to promote investment. I also stressed the importance of Iraq continuing to move forward on WTO accession as a part of the country’s efforts to integrate into the global multilateral trading system.

All of this attention on improving the economy and investment climate in Iraq will ultimately benefit the Iraqi people and help to integrate Iraq into the global economic system. 

The companies who traveled with me have participated in nearly 170 meetings with prospective clients in Iraq. As Fox Business News described it, it’s like speed dating for business. The potential for doing business is certainly plentiful.  

Expanded Exports and Jobs

This is Commerce’s 24th trade mission since President Obama announced the National Export Initiative (NEI) during his State of the Union earlier this year. As of today, Commerce has led more than 250 companies on trade missions to 28 countries. The NEI aims to double U.S. exports in the next five years, supporting several million new jobs.

To learn more about commercial opportunities in Iraq visit trade.gov/iraq

Posted in Exporting, Foreign Direct Investment, National Export Initiative, Trade Missions | Tagged , , | 12 Comments »

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Asian-Pacific FDI Contributions to U.S. Economy

September 17, 2009

Aaron Brickman has been with the International Trade Administration for over seven years.  He currently serves as the Director of Invest in America; and is responsible for management and coordination of foreign direct investment promotion and related activities of the U.S. Department of Commerce.

As the director of Invest in America, the primary U.S. government mechanism to manage foreign direct investment promotion on the federal level, I’m currently conducting foreign direct investment (FDI) seminars and presentations in Taipei and India.  The long flight from Taiwan to India is a great opportunity to provide an update on the growth of FDI from Asia to the United States. 

Invest in America (IIA) recently published a paper detailing the important role of Asian-Pacific direct investment to the U.S. economy.  The report, “Asian-Pacific Foreign Direct Investment in the United States,” focuses on 10 countries and geographic areas that have a large FDI presence in the United States: Australia, China, Hong Kong, India, Japan, Malaysia, New Zealand, Singapore, South Korea, and Taiwan.

Did you know that Asian–Pacific companies currently employ more than 788,000 U.S. workers? That number is equal to the combined working population of Boston and San Francisco. The jobs are high paying, offering on average $68,000 in annual compensation. These firms spend $4.6 billion annually on research and development in the United States and generate $61 billion in U.S. exports. Our report predicts that Asian–Pacific FDI will increase in the United States during the next 10 years, with China and India likely to be significant contributors to that trend.

Companies invest in America because we represent the largest fully-developed single country economy in the world and because our labor pool is one of the best educated, most productive, and most innovative in the world.  We are a global leader in science and technology and a center for innovation.  We reward creativity and we safeguard it by a strong intellectual property rights protection and enforcement regime.

To learn more about Invest in America, global FDI trends and resources or to obtain a copy of the report, visit the office’s Web site at www.investamerica.gov.

Posted in Commercial Service, Competitiveness, Foreign Direct Investment, International Trade Administration | Tagged , , , , | 2 Comments »

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