Investing in US is best business decision one can make: Obama

Investing in the US is the best business decision one can make, President Barack Obama said today and asked foreign companies to choose America to expand their portfolio.
"Investing in the United States is the best business decision you can make," said in his address to the SelectUSA Investment Summit, an annual event aimed at attracting foreign investment into the US.
"When your companies come together, you can help bring countries and cultures together," Obama said in his address urging foreign company representatives to invest in the US.
Several Indian companies are attending the annual SelectUSA Investment summit.
"If you choose a place to expand your portfolio, to place your bets, to open up a plant, to start building the next great new business or service, you would select the USA because nowhere in the world and never in history has there ever been a better place to grow your business," Obama said in his address.

In her address US Commerce Secretary, Penny Pritzker said SelectUSA has facilitated over USD22.5 billion in investment.

In the first two quarters of fiscal year 2016 alone, SelectUSA clients announced 67 projects totaling USD 2.6 billion, that are expected to create more than 5,400 jobs in the United States, she said.
"We are working hard to continually improve the investment climate across our nation. While the United States already offers significant market access through free trade agreements with 20 countries, we know that is not enough," she said.
"Our entire Administration is committed to enacting important new trade agreements like the Trans-Pacific Partnership, which opens doors to Asia-Pacific, the fastest growing region in the world," Pritzker said.

Welcoming foreign investors to the US, Obama said no other economy is so crucial for the global economy.
"No other country can add more innovation to your business or bring your innovative products to more markets. No country has as many top universities, and no country invests more in research and development than we do," he said.
In fact, America is responsible for one-quarter of the world's R&D investments, he added.
"No country has done more to build a culture of making and tinkering, and entrepreneurship and risk-taking, and of innovation and invention. And no other country is home to more foreign direct investment than the United States of America," said the US President.

"In today's world, where business doesn't stop at borders, and when trade is how we shape economic change to our advantage, when the term global economy is redundant, because of global supply chains being tied into every element and every aspect of our lives, these partnerships are the keys to success for all of us, no matter where we live, no matter if you're a small startup or a major multi-national," he said.