May 20, 2011 / 2:53 AM / 7 years ago

Treasury's Wolin: U.S. open to foreign investment

SINGAPORE, May 19 (Reuters) - The United States is open for foreign investment and does not want rules aimed at protecting national security to be seen as unfriendly toward investors, Deputy Treasury Secretary Neal Wolin said on Friday.

“I want to emphasize... that our national security obligations and our openness to foreign investment are not at odds,” Wolin said in prepared remarks for delivery at the Singapore Exchange.

Wolin, on an Asian tour, noted that Treasury chairs the inter-agency Committee on Foreign Investment in the United States, or CFIUS, and said every effort was made to ensure that its decisions were nondiscriminatory.

He said CFIUS considers only whether a transaction presents a threat to U.S. national security and does not take into account broader economic or policy concerns.

“We don’t want to impede transactions that pose no national security risk,” he said, adding that “the vast majority” of foreign investments do not raise security concerns.

Wolin said the CFIUS process was transparent and “precisely circumscribed” and should not be seen by potential foreign investors as hostile toward them.

Reporting by Glenn Somerville, editing by Ramya Venugopal

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