U.S. Secretary of Commerce Gina Raimondo named 34 prominent worldwide business and economic figures who will advise her on how government policies and programs affect the country's capacity to draw in and facilitate foreign direct investment.
The U.S. Investment Advisory Council was established in April 2016 to serve as the secretary of commerce's primary advisory body for promoting and retaining foreign direct investment to the United States, according to an Aug. 22 Commerce Department news release.
“For the last decade, the United States has held the position as the number one destination for foreign direct investment thanks to our incredible customer base, innovative culture and world-class workforce,” Raimondo said in the release.
The Investment Advisory Council has proposed doable strategies to draw in and keep foreign direct investment ever since its founding, the release reported. Past recommendations focused on enhancing U.S. workforce development initiatives, infrastructure investment objectives and digital tools to enhance economic development.
The total stock of foreign direct investment was valued at approximately $5 trillion at the end of 2021, according to the latest data from the Bureau of Economic Analysis, the release reported. It supports nearly eight million American jobs and was responsible for $397 billion in U.S. goods exports in 2019.
