News story

Inward investment

皇冠体育app UK's ability to attract and retain investment from abroad is at the heart of economic recovery plans.

From:
Department for Business, Innovation & Skills, 皇冠体育app Rt Hon Dr Vince Cable and Mark Prisk
Published
14 July 2010
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

That was the message from the Prime Minister , who was joined by Business Secretary , Business Minister and Intellectual Property Minister at the UK Trade and Investment Summit in London today.

More than 100 of the UK鈥檚 leading investors were present, including representatives of Hutchison Whampoa, Motorola, Tata Group, Toyota, Siemens, Emirates, Fujitsu and Pfizer.

皇冠体育app event coincided with the release of national investment figures for 2009/10, which showed:

  • A record number of countries - 54 - invested in the UK, up from 53 the year before.
  • Inward investment generated 94,000 jobs over the past year, a 20% rise on the previous year.
  • 皇冠体育appse jobs were generated by a smaller number of projects - 1,619, down from 1,744 projects the previous year.
  • 皇冠体育app USA remains the number one source of investment with a 14 per cent increase in the number of jobs generated (over 31,500).
  • 皇冠体育app UK is seeing an increasing amount of investment from Eastern European economies with investments from Slovenia, Lithuania and Latvia. This year, the UK recorded 14 investments from Eastern Europe, a 50% increase on last year.

皇冠体育app Prime Minister David Cameron called for a big change in how the UK valued foreign investment. He said:

鈥淲hat we are discussing today is probably the most important subject facing this country because we are coming out of a very deep and difficult recession, growth is fragile, and it is absolutely vital for our country that we attract the maximum amount of inward investment and that we do everything we can to demonstrate that the British economy is open for business, open for trade, open for investment.鈥�

Business Secretary Vince Cable said:

鈥淚nward investment is crucial to the success of the UK鈥檚 economy. It creates thousands of jobs for the country and is key to the economic growth of our regions.

鈥淚 know how attractive the UK is for doing business. That鈥檚 why I鈥檓 so pleased that today I can meet with such vital international companies to encourage them to keep bringing business to Britain.鈥�

**Links **

UKTI press notice

Updates to this page

Published 14 July 2010