Obama pushes new efforts to attract foreign companies, calls for clearer visa provisions

Associated Press

President Barack Obama is announcing federal efforts to combine with states to attract more global investors to the United States. The Obama administration also wants to make it simpler for international companies to bring certain workers to the U.S. from overseas to help launch new operations.

Obama says that America "is proudly open to business."

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The effort is part of a program the administration initiated in 2011 called SelectUSA that aims to streamline efforts to bring foreign businesses to the U.S.

Obama announced the new initiatives Monday at a "SelectUSA Investment Summit."

The foreign worker proposal would offer new policy guidance on L-1B visas, which allows foreign companies to bring workers with specialized knowledge into the U.S. temporarily. Before being implemented, the guidance must undergo a period of public comment.