McDonnell and International Investors
Yesterday Governor Bob McDonnell addressed a group of over 100 business executives discussing ways to increase overseas investment in the commonwealth. Craig Carper reports.
Secretary of Commerce and Trade Jim Cheng hosted the second annual International Investors Forum, made up of executives from Virginia based companies as well as those with a significant presence or investments in the commonwealth.
The speakers shared their individual challenges to grow their businesses in a difficult economy.
Foreign investment has made up a significant portion of Virginia’s economy over the past several decades but has fallen in recent years. Governor McDonnell said he was undaunted by the slump revenue coming from overseas.
McDonnell: We are going to be very aggressive now in pursuing investors from abroad that will invest in Virginia, but also finding new markets for Virginia products from computer chips to forest products to consumer goods. That’s why we asked the General Assembly to give us the money to open up offices in China, India and the UK, that’s about a third of the World’s population right there. We are going to do everything we can internally to expand foreign trade and especially investment in Virginia.
Foreign investment is likely to be a focus of the Governor’s Economic Development and Job Creation Commission, which held their first meeting Wednesday.
Craig Carper, WCVE News, Capitol Square.