the United States Government is presently authorized to collect limited amounts of information on United States investment abroad and foreign investment in the United States;

international investment has increased rapidly within recent years;

such investment significantly affects the economies of the United States and other nations;

international efforts to obtain information on the activities of multinational enterprises and other international investors have accelerated recently;

the potential consequences of international investment cannot be evaluated accurately because the United States Government lacks sufficient information on such investment and its actual or possible effects on the national security, commerce, employment, inflation, general welfare, and foreign policy of the United States;

accurate and comprehensive information on international investment is needed by the Congress to develop an informed United States policy on such investment;

United States service industries engaged in interstate and foreign commerce account for a substantial part of the labor force and gross national product of the United States economy, and such commerce is rapidly increasing;

international trade and services is an important issue for international negotiations and deserves priority in the attention of governments, international agencies, negotiators, and the private sector; and

existing estimates of international investment and trade in services, collected under existing legal authority, are limited in scope and are based on outdated statistical bases, reports, and information which are insufficient for policy formulation and decisionmaking.