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Public Papers - 1991 - December

Statement on Foreign Direct Investment Policy

1991-12-26

I am today reaffirming the unequivocal and long-standing support of the United States for a policy of free and open foreign direct investment among all nations.

The United States open investment policy is based on the principle of national treatment: Foreign investors should not be treated differently from domestic investors. This policy provides the means for economies to grow and to prosper. All countries, both sources and recipients, benefit from foreign direct investment. The United States, the world's largest source and recipient of direct investment, has a major interest in fostering open investment climates. We are committed to our open investment policy in the United States, and we are aggressively seeking to open markets abroad.

Like domestic investment, foreign direct investment stimulates growth, creates jobs, fosters competition, and facilitates the creation and exchange of goods, services, and innovative techniques. It helps our economy maintain investment, which is vital to our economic performance and international competitiveness.

Since 1983, the last time the United States issued an investment policy statement, the world has witnessed enormous changes in the treatment of foreign investment. Many countries are dismantling inefficient economic systems and are actively seeking investment from abroad.

As other nations around the globe join us in embracing the concept of free markets, it is important to reaffirm our commitment to an open investment policy. It is an essential element of our Nation's effort to compete fully in the global economy and is a constant contributor to worldwide growth and the prosperity of nations.

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