The race for space has resumed between the United States, China and Russia, with the Trump administration seeking to enhance America’s position as other countries have advanced their technology and engaged in tactics to harm U.S. interests, Vice President Mike Pence said in a speech.

Vice President Pence, speaking to the Satellite 2019 Conference in Washington, D.C., on May 6, reminded the attendees of President Trump’s inaugural address, in which he said America is ready to move forward in space. Private industry will play a key role in the effort as the Trump administration has removed regulatory red tape, negotiated new trade deals and passed tax cuts to spur investment in innovative technologies, Pence added.

The economy is “roaring,” with 5.8 million new jobs created in the past two years, Pence said.

“More Americans are working today than ever before,” Pence said.

The U.S. technology industry is helping to lead the way for “renewed American prosperity,” Pence said. At the same time, space companies that drive innovation are critical to American success, he added.

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Paul Dykewicz, www.pauldykewicz.com, is an accomplished, award-winning journalist who has written for Dow Jones, the Wall Street Journal, Investor’s Business Daily, USA Today, the Journal of Commerce,Seeking Alpha, GuruFocus and other publications and websites. Paul is the editor of StockInvestor.com and DividendInvestor.com, a writer for both websites and a columnist. He further is the editorial director of Eagle Financial Publications in Washington, D.C., where he edits monthly investment newsletters, time-sensitive trading alerts, free e-letters and other investment reports. Paul previously served as business editor of Baltimore’s Daily Record newspaper. Paul also is the author of an inspirational book, “Holy Smokes! Golden Guidance from Notre Dame’s Championship Chaplain,” with a foreword by former national championship-winning football coach Lou Holtz. Follow Paul on Twitter @PaulDykewicz.