President Donald Trump has signed an executive order predicting the establishment of a new office to accelerate investments in the country. The White House announced that a new investment office to operate under the U.S. Department of Commerce has been established. The statement highlighted that the purpose of the office is to facilitate and expedite investments exceeding 1 billion dollars. The new office is said to reduce regulatory burdens to encourage companies to make significant investments in the U.S., expedite permit processes, coordinate investor issues across different agencies, increase access to national resources, and facilitate collaborations with national laboratories. It was also noted that the office will work with state governments and economic development organizations. The statement mentioned that the office will manage the CHIPS Program Office initiated during the former U.S. President Joe Biden’s term, aiming to negotiate more advantageous agreements for taxpayers to secure “better” deals than the previous administration. The announcement indicated that the office will attract domestic and foreign investments by streamlining processes, making the U.S. the most attractive destination for large-scale investments.