ALL Of US know that economic development in Latin America or elsewhere really cannot succeed without a healthy and vigorous growth in the private sector. This is not only a matter of economics, but--vastly more important--private sector growth has great social and political implications. Our policies can and must be directed toward insuring the equal treatment of both foreign and domestic entrepreneurs. We must also seek to insure that the climate for investment in Latin America is positive.
Note: The statement was part of a White House release announcing that the Group, composed of 37 businessmen representing major U.S. companies active in Latin America, had met with the President at the White House. The Group offered the benefit of its experience to Government agencies dealing with Latin American affairs and suggested meetings with Government officials from time to time to consider matters of common interest relating to Latin America. The Group would also work with similar organizations of businessmen in Latin America.
The release lists David Rockefeller, president of the Chase Manhattan Bank, as chairman of the Business Group, and Fred C. Roy, chairman of Koppers Company, Inc., and John R. White, vice president of Standard Oil Company (New Jersey), as vice chairmen.
Lyndon B. Johnson, Statement to Members of the Business Group for Latin America. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/240026