Statement by the Press Secretary: President Bush Signs Foreign Investment and National Security Act of 2007

The President today signed the Foreign Investment and National Security Act of 2007. This legislation will strengthen our national security by ensuring a thorough and high-level review of acquisitions of U.S. companies by foreign firms that may present security considerations. The legislation also demonstrates that America can meet the challenges of the post-9/11 world while continuing to welcome foreign investment that provides well-paying jobs and economic opportunity for our citizens.

As the President made clear in his May 10 Statement on Open Investment, a climate conducive to foreign investment strengthens our national security. This Administration is committed to maintaining that climate at home, and will continue to seek it abroad. We commend the Members of Congress of both parties whose leadership enabled the passage of this legislation.