Show of confidence in UK as foreign investment rises
Foreign direct investment flows into Britain increased in 2012/13, bucking a trend of declining global growth in cross-border investment spending.
In the previous financial year, the UK secured 1,559 projects funded by foreign investors, 11 per cent more than in 2011/12. Globally, cross-border investment is estimated to have fallen by some 18 per cent in the year.
The figures are contained in the UK Trade & Investment’s annual report published today. The trade promotion body estimates that these projects secured 110,000 existing jobs and created 60,000 new ones.
It said the number of inward investment projects in Northern Ireland, Scotland and England (excluding London) were up by 41 per cent, 16 per cent and 10 per cent respectively. Welsh investment projects rose by 191 per cent.
The trade and investment minister, Lord Green, described the figures as a “major vote of confidence from foreign investors confirming that the UK remains a world leading business destination”.
But Lee Hopley of EEF, the manufacturers’ organisation, said that there was more to do.
“Continued investment in manufacturing is important in supporting supply chains, exports and productivity so the UK must keep up efforts to make the UK a great place for globally focused manufacturers to invest and grow,” she said.
- 1 Unseen Charlie and the Chocolate Factory chapter deemed 'too subversive' released
- 2 Ebola virus: It's ripped through towns – now the deadliest ever outbreak of the virus is heading for Africa's teeming cities
- 3 Joan Rivers: 'Palestinians deserve to be dead'
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 Mexican woman becomes world’s 'oldest person' at 127
Israel-Gaza crisis: YouTube footage shows scale of destruction after 50 days of shelling
iPhone 6 'hidden code' could indicate sharper screens or bigger phones
Keira Knightley topless: Conservative actress does own take on #Freethenipple campaign for Interview Magazine
Joan Rivers: 'Palestinians deserve to be dead'
Ebola virus: It's ripped through towns – now the deadliest ever outbreak of the virus is heading for Africa's teeming cities
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
iJobs Money & Business
£40000 - £45000 per annum: Ashdown Group: An established professional services...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
£28 - 32k + Uncapped Commission: Guru Careers: A Business Development Manager ...
£40000 - £70000 per annum + Bonus+Benefits+Package: Harrington Starr: C# .NET ...