Sec. 5. Investment promotion and trade capacity building assistance
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The President, acting through the Executive Director of the Directorate, shall develop and implement policies that promote, facilitate, and increase two-way trade and investment between the United States and Africa, including by providing support for— activities to advance trade capacity building assistance, as authorized by the African Growth and Opportunity Act and Millennium Challenge Modernization Act ( Public Law 115–167 ) and the amendments made by that Act, and other applicable statutes; identification and development of investment opportunities for the United States private sector in partner countries and efforts to facilitate and promote trade and investment opportunities in the United States and Africa; analysis of market systems, trends, prospects and opportunities for value-addition, including risk assessments and constraints analyses of key sectors and United States strategic competitiveness, and other reporting on commercial opportunities and investment climate in Africa; outreach and engagement with small and medium-sized enterprises in Africa or doing business with African partners, including women-led and diaspora-owned businesses; efforts to leverage resources and expertise to lower non-tariff barriers to trade and investment in Africa, such as African enterprise access to capital, and to generally promote a conducive business climate for private sector investment; technical assistance to the African Union and regional economic communities to implement the African Continental Free Trade Area and support regional economic integration; and development of local African capital markets and Africa’s access to lower cost, longer-term capital on global capital markets, including improving African investment readiness, increasing the availability of market-based risk mitigation tools and improving the reliability and availability of investment data, to promote the larger-scale, standardized, transparent investment flows asked for by investors.
In providing assistance to carry out the activities described in subsection (a), the President should consider United States strategic interests when allocating such assistance and give priority for activities in countries that— have demonstrated support for economic policies that promote the development of private enterprise, including foreign direct investment, and taken steps to improve a business enabling environment that could benefit the United States private sector and economy if such assistance is provided; or are designated by the President— as an eligible sub-Saharan African country under the African Growth and Opportunity Act ( 19 U.S.C. 3703 ); as meeting the threshold requirements to enter into an agreement with the United States under section 609 of the Millennium Challenge Act of 2003 ( 22 U.S.C. 7708 ; relating to Millennium Challenge Compact); or as a beneficiary developing country under section 502 or 506A of the Trade Act of 1974 (19 U.S.C. 2462 or 2466a) and has ratified and taken steps to implement the African Continental Free Trade Area.
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Sec. 5
Investment promotion and trade capacity building assistance
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