Obama Vows L-1B Visa Reform To Attract Global Business

WASHINGTON: Declaring that "America is proudly open for business", President Barack announced plans to reform the L-1B visa category to allow global corporations to temporarily move workers to the U.S. in a faster, simpler way.

"And this could benefit hundreds of thoU.S.ands of non-immigrant workers and their employers; that, in turn, will benefit our entire economy and spur additional investment," he said addressing the second SelectU.S.A Investment Summit in Washington.

"So the bottom line is this: America is proudly open for business, and we want to make it as simple and as attractive for you to set up shop here as is possible," said Obama. "That is what this summit is all about."

"The fact is there's never been a more exciting time for U.S. to do business together," he said. "The companies that invest in America have access to the largest market in the world - and it's a market that is strong and stable, and growing."

More than 2,600 people-including 1,300 companies from more than 70 countries including India and over 500 U.S. economic development officials from across the country-are attending the summit launched in 2011.

According to the White HoU.S.e the Department of Homeland Security will clarify guidelines for global companies seeking to staff new and expanding U.S. operations with specialized knowledge related to their company or indU.S.try without impacting job opportunities for U.S. workers.

The Confederation of Indian IndU.S.try (CII) in collaboration with SelectU.S.A released the second edition of 'U.S. Business and Investment Climate Report' at the summit.

A media release said the report has been created "to serve as a ready reference guide to not jU.S.t Indian companies but to all those looking to expand their business in the U.S. or enter the U.S. as an investment destination."

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