US: President Obama discusses investments with executives image

President Barack Obama has decided to call to arms important corporate executives from major global companies, including from the automotive industry, to deliberate on a new White House strategy that wants to spur investment in America.

SelectUSA, the White House plan, has already aided in bringing at least $18 billion in business investments across 17 states, and now Obama, Commerce Secretary Penny Pritzker and other advisors joined the discussion with the company executives.

“We have the most dynamic and creative and innovative economy in the world, but we don’t always do what it takes to go after business around the world and make sure that they know the benefits of investing in the largest market on Earth,” Obama said at the beginning of the meeting, addressing reporters.

The meeting, which only included top players on an international level, included eleven executives from Ford Motor, Deutshe Lufthansa AG, Swedish telecom supplier Ericsson or Zurich NA, a subsidiary of Switzerland’s Zurich Insurance. Besides Joe Hinrichs, executive vice president and president of the Americas at Ford, from the automotive industry was also present Byeong Jin Lee, senior vice president and COO, Hankook Tire. We can note the notable absence of anyone from General Motors, but that would be understandable given the problems the No.1 US automaker faces with the ignition switch recall.

Via Reuters