Pryce's Subcommittee Explores Dubai Ports Transaction

DIMP Holds First Official Hearing into CFIUS Process

On March 1, 2006 the Subcommittee on Domestic and International Monetary Policy, Trade and Technology (DIMP) - chaired by Congresswoman Deborah Pryce (R-Upper Arlington) - held a hearing on the CFIUS (Committee on Foreign Investment in the United States ) process by which Dubai Ports World (DPW) of the United Arab Emirates was approved to manage six U.S. ports. 

“While I learned much about CFIUS and the process by which it operates, my objective over this 45 day review period is to ensure that the security of our nation and my constituents remains the primary focus of CFIUS,” said Pryce. “All other concerns – expanding trade, solidifying international friendships, and the procedural workings of Administrative entities – are secondary in importance, and can be addressed in due time.”

"I appreciated the candor of the CFIUS representatives, and I do not question the extent to which the transaction was professionally reviewed and critically analyzed. Nonetheless, I had one concern going into the hearing, and one concern coming out of it: the safety and security of the American people.”

"My Subcommittee will continue to review the testimonies provided today, and will determine if further action is necessary.  Should we find that that greater oversight or subsequent action is needed pursuant to this review, the subcommittee will be prepared to take the next appropriate steps.”