WASHINGTON, March 23 (UPI) -- Foreign governments and overseas firms are stepping up their lobbying efforts to get a piece of the $787 billion U.S. economic stimulus program, observers say.
The Washington Post reported Sunday that Spain's Prince Felipe and his wife, Princess Letizia, visited New York and Washington last week, hoping to help Spanish firms get a piece of the action.
"Only by working together with U.S. businesses and government, as well as coordinating our needs and priorities, can we get our countries, and world, back on track," Felipe said at a New York business luncheon.
The newspaper said firms with U.S. presence are selling their expertise in clean energy, high-speed transit and other technologies that fall in line with aspects of U.S. President Barack Obama's stimulus efforts.
"Once you get into some of these specialized technologies, only one or a few companies worldwide can provide it," said Jayson Myers, president and chief executive of Canadian Manufacturers & Exporters. "If you want to advance the innovation priorities of the Obama administration, it becomes very difficult without involving foreign companies."
The newspaper noted that foreign-owned companies employ 5.3 million workers in the United States, spend $336 billion on payroll and account for 20 percent of U.S. exports.
