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February 21, 2006

Pryce Statement on Dubai Ports
World Transaction

Washington, D.C. - Congresswoman Deborah Pryce (R-Upper Arlington) released the following statement in response to the Committee on Foreign Investments in the United States (CFIUS) approval of selling the management rights of six of our nation's ports to Dubai Ports World, based in the United Arab Emirates.

"Since 9/11, Congress has rightfully invested millions of dollars to strengthen our nation's seaports, and has called for comprehensive security improvements costing billions more over the next decade. Selling the management rights of these ports to foreign interests without thorough review, however, undermines public confidence in our efforts to date, and appears antithetical to our goal of improving port security.

“While I am certain that CFIUS used dispassionate, objective criteria in its decision-making process, the profound importance of this decision made by an agency relatively unknown to the American public requires that transparency be applied to the process.  While CFIUS is required to reach its conclusion devoid of political considerations or public perception, Congress is not similarly hamstrung, and can thus evaluate the transaction to ensure it does not diminish public confidence in our security.

“As the Chair of the Subcommittee on Domestic and International Monetary Policy (DIMP) which oversees CFIUS, I have directed the subcommittee to thoroughly evaluate the process CFIUS used in approving the sale of the management rights of these ports.  Should it be determined that greater oversight or subsequent action is needed pursuant to this review, my subcommittee will be prepared to take the next appropriate steps.

“The United Arab Emirates is a partner and ally in the War on Terror. And for that reason, the UAE should welcome a thorough review of this transaction – if Dubai Ports World can effectively manage these ports without putting any aspect of America’s security at risk, then a Congressional analysis of the matter should bear this out.”

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