President of the United States, Donald Trump, has signed an executive order predicting the establishment of a new office to accelerate investments in the country. The announcement from the White House stated that a new investment office will be established within the U.S. Department of Commerce. According to the statement, the office will be set up to facilitate and hasten investments exceeding $1 billion. The new office is said to reduce regulatory burdens to encourage companies to make significant investments in the U.S., expedite permit processes, coordinate investment issues among different agencies, increase access to national resources, and facilitate collaboration with national laboratories. It was also noted in the announcement that the office will work with state governments and economic development organizations. The statement highlighted that the office will oversee the CHIPS Program Office initiated during the former U.S. President Joe Biden’s term to increase domestic semiconductor production, and aim 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.