Declaring “we are open for business,” President Obama on Thursday announced an expansion of federal efforts to lure foreign companies to invest in the United States, including making sales pitches a formal part of every American ambassador’s portfolio.
“All of them are great ambassadors for America, and they’re building bridges and connections every day,” Mr. Obama said at a conference organized by the Commerce Department that brought together foreign businesspeople with local and state officials. “Well, I want them doing even more to help foreign companies cross those bridges and come here.”
Mr. Obama also pledged to do more business development when he travels overseas. He said the federal government did not adequately coordinate with cities and states in trying to attract foreign investment. That has left individual states in the difficult position of competing with other countries for business investment.
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