US invites Gulf Arab investment

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Investments by Gulf Arab countries have been praised by the US treasury secretary as moves that would drive the global economy back to growth.

Speaking in the Saudi port city of Jeddah on Tuesday, Timothy Geithner invited greater Arab investment in the US economy, saying that previous blocks to such investment were now no longer an issue.

US security concerns prompted a backlash three years ago against a potential investment by Dubai Ports World into US ports.

Geithner said that since then the US government "has put into place a series of reforms designed to safeguard national security, while providing more clarity, predictability and transparency to investors".

Kwa habari zaidi BOFYA HAPA...

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