Snow Says Rejecting Dubai Ports Deal Would Send Bad Signal

  • 12/15/2022
  • 21:16
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Washington, Feb 23, SPA -- U.S. Treasury Secretary John Snow said Wednesday that rejecting an Arab company's takeover of operations at major U.S. ports would have sent a bad signal about investment from "certain parts of the world" in the United States. "Let me say that, having vetted the process and having concluded that it would not present national security risks, the implication of failing to approve this would be to tell the world that investments in the United States from certain parts of the world aren't welcome," Snow said. The U.S. Treasury chief was referring to a $6.8 billion takeover of a British company's operations at six major U.S. ports by Dubai Ports World. "Our failing here, if there was a failing, was in explaining this process," Snow told reporters as he visited a Danbury, Connecticut plant that makes fuel cells. He said the Bush administration would be "reaching out" to lawmakers concerned about the deal.--SPA 11 37 Local Time 08 37 GMT www.spa.gov.sa/333900

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