The United States reaffirms our open investment policy, a commitment to treat all investors in a fair and equitable manner under the law, and I encourage all countries to pursue such a policy. My Administration is committed to ensuring that the United States continues to be the most attractive place for businesses to locate, invest, grow, and create jobs. We encourage and support business investment from sources both at home and abroad.
Investments by foreign-domiciled companies and investors create well-paid jobs, contribute to economic growth, boost productivity, and support American communities. The United States consistently receives more foreign direct investment than any other country in the world. By voting with their balance sheets, businesses from abroad have clearly stated that the United States is one of the best places in the world to invest. This is because we have a strong and open economy, the world's most productive workforce, a unique culture of innovation and entrepreneurship, remarkable colleges and universities, and a business environment marked by transparency, protection of intellectual property, and the rule of law.
Inbound investment has long been an important component of our overall economy. Today, United States subsidiaries of foreign-domiciled companies employ more than 5 million Americans and provide above-average compensation. These companies invest in innovation here in the United States, spending over $40 billion each year on research and development. And in many cases the goods and services produced here are sold around the world, contributing to the National Export Initiative goal of doubling exports.
In a global economy, the United States faces increasing competition for the jobs and industries of the future. Taking steps to ensure that we remain the destination of choice for investors around the world will help us win that competition and bring prosperity to our people. Consistent with our national security and while ensuring a level playing field for American investors, we will do just that.