It would appear that Britain is the most attractive country in Europe to foreign investors after it managed to attract over 1,800 new projects in the past year; this is the highest it has been since records began.
With a competitive tax system and flexible labour markets, overseas investment has been pouring into the country as the government continues to create a ‘business friendly’ environment in order to further encourage outside investment and create jobs.
UK Trade and Investment (the government department responsible for encouraging overseas firms to invest in Britain) figures show a growth of 14% of inward investment in the country from the previous year with Northern Ireland gaining the most as an individual region with a 32% increase. The United States is the leading investor over this period with 501 projects being started whilst France and Japan closely follow and India and China contributing 74 and 88 projects respectively. These investments have totalled around £975bn and seen a creation of 66,390 jobs which is a massive advantage to the economy.
More than half of the investment was in energy or infrastructure with advanced manufacturing seeming to have taken the brunt of this investment influx with over 400 projects being taken up with Trade minister Lord Livingstone saying:
“It shows that our strategy to attract investors to the UK by creating one of the most business-friendly environments in the world is the right one, and it is proof that foreign investors have confidence in the UK as the best place to do business,”
Further investment opportunities are to be presented to international political leaders as part of the Commonwealth Games Business Conference later this week which could see yet more global investment come into the country. Around £15bn worth of potential investment projects are due to be highlighted at the conference.
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