US official says America open to Gulf investors

A high-level Bush administration official says the battered US economy is open to more investment by Middle Eastern government-owned funds and other wealthy investors. Speaking to officials and reporters at the Dubai International Financial Centre during a five-country Gulf tour, Deputy US Treasury Secretary Robert Kimmitt says he is meeting with sovereign wealth funds, companies and other financial institutions in the region. The aim, he said Tuesday, is to emphasise “we’re open to investment”. Kimmitt said many potential investors he has met in the region have been looking at possible deals in the US over the past month. AP