Report: President Obama to Announce New Initiatives to Attract Foreign Business Investments

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Barack ObamaPresident Barack Obama is scheduled to announce  fresh initiatives on Oct. 31 aimed at bringing foreign investors to the U.S., Reuters reported Thursday.

Mark Felsenthal writes Obama will address business representatives from across the world at the SelectUSA investment conference on Thursday.

Administration officials told the publication the federal government intends to revive previous export promotion strategies to attract investors.

“It’s not a level playing field for a mayor of one of our cities to have to compete against the prime minister or head of state of a major industrial power,” said Gene Sperling, White House National Economic Council Director.

Obama will also announce that administration officials will coordinate to identify production and investment opportunities in the U.S., Reuters reports.

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