(Washington, DC) -- President Obama is encouraging more foreign investment in the U.S. Headlining an international business investment summit in Washington, the President said the U.S. is "open for business."
He insisted there is "no better place in the world to do business" than in America. Obama argued that the U.S. has the world's best universities and the most innovative entrepreneurs. He described aggressive trade and foreign investment as a win-win proposition.
Obama said there are more Hondas that are "made in America" than anywhere else in the world. He added, "Caterpillar is bringing jobs back from Japan; Ford is bringing jobs back from Mexico."
The President also criticized congressional Republicans over the recent partial shutdown of the federal government. He said the shutdown and debt ceiling standoff sent a bad message around the world.