American market as free as ever for FDI: Bohigian

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FDI

New Delhi, Jan 18: Dispelling any misgivingsm about the openness of US economy US Assistant Secretary, Market Access and Compliance, David Bohigian said, ''the US economy remains free inspite of the huge amounts of FDI flows in the country.'' Mr Bohigian who was in country to promote clean energy trade mission, discussed the prospects about investments in America by Indian companies.

''With close to five million Americans dependent on FDI flows for their jobs, and 175 billion dollars flowing into the economy in 2006, the US market remains as free as ever with a clear focus on tracking the policy environment, lowering of healthcare and energy costs and reduction of the regulatory burden,'' said Mr Bohigian.

He further added that while the US economy remains open for the rest of the world, discussions with India"s Department of Industrial Policy and Promotion (DIPP) would centre round the need to lower tariffs on US products.

He said the US launched its 'Invest in America" project 10 months ago in the wake of misgivings expressed by many countries about the openness of the US economy.

The project, the primary US Government mechanism to manage foreign investment promotion, is aimed at communication with foreign governments and investors on the openness of the US economy, addressing the concerns over the business climate and providing on-the-ground help to foreign investors through its commercial service and embassy staff.

US competitiveness, rests on several planks these include: the issuance of business visas, efficient and low cost healthcare system, legal reform, fair regulation, easy market access and a reasonable corporate taxation regime, Mr Bohigian said.

However, he declined any special tax benefits being dished out to the Indian companies.


UNI

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