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114789 1 (1981-04-02)

handle is hein.gao/gaobadyrd0001 and id is 1 raw text is: 
             UNITED STATES GENERAL ACCOUNTING OFFICE
                   WASHINGTON, n.C.   20548

                                          FOR RELEASE ON DELIVERY
                                          EXPECTED AT 10:00 A.M.
                                          THURSDAY, APRIL 2, 1981

                          STATEMENT OF

                          FRANK C. CONAHAN

                 DIRECTOR, INTERNATIONAL DIVISION          114789

                           BEFORE THE

      SUBCOMMITTEE ON TELECOMMUNICATIONS, CONSUMER PROTECTION,

                           AND FINANCE

              HOUSE COMMITTEE ON ENERGY AND COMMERCE

                               ON

                     rCON. RES. 59j              6. 7o Z


Mr. Chairman and Members of the Subcommittee:

     We appreciate the opportunity to testify today on H. Con.

Res. 59 requesting reports from the Securities and Exchange Com-

mission and the Department of Commerce on the acquisition of U.S.

firms by foreign nationals. We concur with the Subcommittee's

recognition of the importance of studying the effects of foreign

direct investment in the United States and expect such an expres-

sion of interest will encourage the administration to monitor and

analyze foreign direct investment. We believe such analyses are

necessary to keep the public adequately informed about foreign

investment activity and to provide the Congress and the adminis-

tration with adequate information to determine whether there are

problems that need to be addressed.








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I ItW11

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