US Investment Summit: Federal and state officials court foreign investment

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Europe

02:54

Under the shadows of tariff disputes, the US commerce department has wrapped up its annual event aimed at attracting foreign business investment into the United States. The department said four international companies at the SelectUSA Investment Summit announced projects worth more than 600 million dollars. CGTN's Roee Ruttenberg has the details.

As the White House was making fresh threats of imposing more tariffs on Friday, just outside of Washington, top US officials were courting foreign investors.

MIKE POMPEO US SECRETARY OF STATE "There's a myth of American retreat from the world, and I have to tell you it is just a myth. President Trump's agenda is the most pro-business, most pro-international trade of any president in history. It's been a game-changer for the American economic landscape, and it is one that your company will want to be a part of."

Some three-thousand potential investors - from more than 65 international markets- are attending SelectUSA. The two-day event is now in its fifth year. But Zhao Zhenge admits: fears of a US trade war with China have kept some people away.

ZHAO ZHENGE CHINA CHAMBER OF INTERNATIONAL COMMERCE "We wish that the two countries can negotiate or can have a dialogue or better communications so that we can do business. Through business investment and cooperation, we can minimize the trade differences."

Zhao says the Chinese delegation - usually the largest - was significantly smaller this year. On Wednesday, before the official Investment Summit kicked off, Chinese businesses, already operating in the US, held their own event for the visiting Chinese investors. The message: come join us. Governor after governor echoed the appeal.

MATT BEVIN KENTUCKY GOVERNOR "We want Chinese investors in America. We do. We want Chinese investors in Kentucky. We do. And my commitment to you is to help start forming strong partnerships. And I am telling you that the ability for us to grow together is great."

In the first half of the year, foreign direct investment from China has significantly dropped. Still, US commerce officials insist: there's never been a better time to do business.

KAREN DUNN KELLEY DEPUTY US COMMERCE SECRETARY "You can just sense the energy, you can sense the excitement, we had over 10 governors here, we had 14 chiefs of mission. We want to show that USA is a great place to invest."

ROEE RUTTENBERG MARYLAND "Several potential investors who registered for the event with the Commerce Department, including some from China, had their visa applications rejected by the State Department. One delegate told me: if the Americans want our money, the left hand really needs to start talking to the right hand. Roee Ruttenberg, CGTN, at the National Harbor, in Maryland."