US open to investment from sovereign wealth funds

28 October 2008
US Deputy Treasury Secretary Robert Kimmitt has said during a tour of the Gulf that the US remains open to investment from sovereign wealth funds.

Speaking in Dubai on 28 October during a trip to five cities in the Gulf, Kimmitt said: “What I’m really doing on this trip is making clear to the sovereign wealth funds that we [the US] remain open to investment.”

He added that the current administration was eager to move past the furore over the attempt by the UAE's DP World to buy ports in the US in 2006, and would work to “blunt protectionist pressures”.

“We want to help investors here look at opportunities in the US,” he said.

Kimmitt also welcomed moves by the UAE to improve liquidity in the banking market including a liquidity injection and lowering interest rates.

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