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Gene Sperling

Obama Looks to Lure More Foreign Investment

President Barack Obama on Thursday pledged an aggressive expansion of U.S. efforts to draw foreign investment by clearing away red tape and having U.S. diplomats court investors who want to break into the market."We know we can do more. We know we can do better,'' Obama said at a conference his administration organized that attracted business representatives from around the world.While the United States drew $166 billion in direct investment dollars in 2012, more than any other country, the U.S. share of foreign direct investment has fallen to 17% from more than a third in 2000, according to the Organization for International Investment, a trade group that represents the U.S. operations of global companies.Seeking to reverse that trend, Obama said the United States would start to coordinate efforts at the federal level to attract investment in a way it has not before. Until now, states and cities have been responsible for making pitches for business from abroad."As a country, we don't ...

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