The SelectUSA 2024 Investment Summit is scheduled to take place from June 23-26 at the Gaylord National Resort and Convention Center in National Harbor, Maryland, USA.
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| The Select USA 2024 Investment Summit will take place from June 23-26. |
SelectUSA is a U.S. government program designed to attract and retain foreign direct investment in the U.S. economy.
SelectUSA provides two primary services to clients. The first is for economic development organizations at the state, regional, and local levels. The second is for foreign businesses operating in the United States or those planning to enter the U.S. market.
The SelectUSA 2024 Investment Summit attracted more than 2,300 foreign-invested companies, representing more than 90 foreign markets. And for the first time, SelectUSA 2024 included participation from all 56 U.S. states and territories.
Attending the event were 11 state governors, the mayor of Washington DC; 6 cabinet members and senior White House officials; more than 20 heads of delegations, including 18 delegations led by US Ambassadors to various countries (this year's Vietnamese delegation will be led by US Ambassador to Vietnam Marc Knapper); more than 140 speakers will discuss on the main stage and in panel discussions; and more than 1,000 attendees from economic development organizations across the country.
From his earliest days in office, President Joe Biden has identified supply chain vulnerabilities as a major economic security challenge.
On that basis, the Department of Commerce, through the SelectUSA program, has prioritized attracting investment in important areas, minimizing gaps in the supply chain, including semiconductors, clean energy and batteries, critical minerals, and biopharmaceuticals.
SelectUSA is helping build a resilient supply chain that will protect America's technological leadership for decades to come.
The SelectUSA 2024 Summit continues to build on the Biden administration’s landmark legislation, including the CHIPS and Science Act, bipartisan infrastructure legislation, and the Deflation Relief Act, to drive nearly $100 billion in investment in the U.S. supply chain.
Since its founding in 2011, SelectUSA has assisted thousands of clients, including economic development organizations, domestic companies, and international companies, and facilitated hundreds of billions in investment capital.
The SelectUSA 2024 Investment Summit is expected to attract more than 5,000 attendees, helping to generate more than $100 billion in new U.S. investment projects, supporting more than 85,000 jobs across the United States.
On June 21, S&P Global released data showing that US business activity rose to its highest level in more than two years in June 2024, amid a recovery in employment and a significant reduction in price pressures, bringing hope that the recent slowdown in inflation will continue to be maintained.
The composite Purchasing Managers' Index (PMI) tracking the US manufacturing and services sectors rose to 54.6 in June 2024, its highest level since April 2022, after reaching 54.5 in May 2024. A reading above 50 indicates growth, with both the services and manufacturing sectors contributing to the increase.
The manufacturing PMI rose to 51.7 in June 2024, up from 51.3 in May 2024. Meanwhile, the services PMI rose to a 26-month high of 55.1, up from 54.8 in the previous month. The index of new orders received by private businesses also rose to 53.4, up from 51.7 in May 2024. The employment gauge rose for the first time in three months, amid improved business confidence and rising demand, according to S&P Global.
The rate of increase in input and output prices of enterprises slowed down. The input price index decreased to 56.6 in June 2024, from 57.2 in the previous month. The output price index decreased to a five-month low of 53.5, from 54.3 in May 2024.
The rising composite PMI suggests the US economy could end the second quarter of 2024 with a positive outlook.
But the hard data paints a different picture. Retail sales barely rose in May 2024, after falling in April 2024. Housing starts extended their decline, hitting a nearly four-year low in May 2024.
The US economy is slowing after the Fed raised interest rates a total of 525 basis points from 2022 to curb inflation.
Source: https://baoquocte.vn/hoi-nghi-thuong-dinh-dau-tu-select-usa-2024-se-khai-mac-vao-ngay-mai-236-my-trong-doi-gi-275902.html
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