Buoyed by a recent report that US has surged past countries like India and China to become a nation with the top FDI prospects, President Barack Obama has launched a fresh effort to attract foreign investments, saying America is a land of opportunities where “you can do business’’.

New strategies to attract FDI

Unveiling a set of new strategies to attract FDI and encourage companies to set up bases in the US, Obama said: “To all the business leaders here today, and around the world, we want to be your partner in helping to write the next chapter in our history.”

“We want you to join the generations of immigrants and entrepreneurs and foreign investors who’ve discovered exactly what it means when we say we are the land of opportunity. That is not a myth. It’s a proven fact,” Obama told the SelectUSA 2013 Investment Summit here.

Around 1,200 business leaders from nearly 60 countries, including India, were attending the summit aimed at attracting companies to invest in the US.

“There are a lot of wonderful countries out there, but this is a place where you can do business, create great products, deliver great services, make money and do good at the same time. So you should find out why there’s no substitute for those proud words: Made in America,” he said in his address to the summit.

“And here’s three more words: Select the USA. When you do, you’ll find some of the world’s best workers, some of the world’s most innovative entrepreneurs. You’ll find a government and a president who’s committed to helping you create more good jobs for the middle-class and helping you succeed well into the 21st century,” Obama said as he unveiled a set of measures to attract FDI.

“Building on the great work that our diplomats and embassies do every day, I’m making attracting foreign investment a formal part of the portfolio for our ambassadors and their teams around the world...I want them doing even more to help foreign companies cross those bridges and come here,” he said announcing his plans to expand economic missions overseas.

Key destination for biz investment

The White House said that the US is increasingly attractive as a destination for business investment, including FDI, for many reasons and companies and experts from around the world agree.

In its June 2013 FDI Confidence Index, the US surged past countries like China, Brazil and India to become the country with the top FDI prospects globally, as ranked by 302 companies representing 28 countries and multiple industry sectors.

2013 marks the first time that the US occupies the #1 spot in the survey since 2001, the White House said.

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