Press Release
Friday, August 3, 2007
OPIC TO HOLD NEW SERIES OF MINORITY AND WOMEN-OWNED BUSINESS WORKSHOPS
Newark, Houston & San Francisco sites of autumn events
WASHINGTON, D.C. – Building on the success of a series of workshops for minority and women-owned businesses in 2006 and early 2007, the Overseas Private Investment Corporation (OPIC) will hold a new series this fall, providing hundreds of businesses in Newark, Houston and San Francisco an opportunity to learn how products and services offered by OPIC and other government agencies can help them expand into emerging markets overseas.
Like the first series, which drew the participation of more than 500 minority and women-owned businesses, the workshops are called Expanding Horizons, and will be held in cooperation with the U.S. Department of Commerce’s Minority Business Development Agency and the National Women's Business Council. Previous workshops were held in Atlanta, Chicago, Los Angeles and Miami.
The dates for the new workshops are:
Newark, New Jersey September 27
Houston, Texas October 18
San Francisco, California November 15
Companies interested in participating in Expanding Horizons may register at www.trademeetings.com. A link to the website may be found at the OPIC website, www.opic.gov.
OPIC established the workshops out of awareness that minority and women-owned businesses face unique challenges in their efforts to gain entry to the global marketplace: lack of knowledge about government programs available to support overseas investment, scarcity of capital to pursue opportunities abroad, and concern over political risks in emerging markets have prevented them from expanding overseas.
Participating companies will learn about challenges and opportunities of overseas and cross-border investment; U.S. government programs offering assistance to minority andwomen- owned businesses; political risk insurance; accessing capital for overseas projects; opportunities infranchising and thehousing sectors; and OPIC support for U.S. small businesses. Speakers will include senior government officials from OPIC and other agencies, international bankers, and representatives from businesses investing overseas who shared their insights and experiences.
OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.
OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency’s 35-year history, OPIC has supported $177 billion worth of investments that have helped developing countries to generate over $13 billion in host-government revenues and create over 800,000 host-country jobs. OPIC projects have also generated $71 billion in U.S. exports and supported more than 271,000 American jobs.