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UK Trade & Investment today released the UK’s national investment figures which showed that a record number of countries invested in the UK in 2009/10. Inward investment generated 94,000 jobs over the past year, a 20 per cent rise on the previous year. These jobs were generated by a smaller number of projects - 1,619, down from 1,744 projects the previous year.
Prime Minister David Cameron said: “Attracting and retaining inward investment is hugely important for our economic recovery.
“We want Britain to be a place where companies can grow and succeed, where the world’s best companies thrive, where great ideas and innovations are turned into great products and where we have a world-class workforce.
“We are determined to deliver the pro-business environment investors need; getting the deficit down to create certainty and stability, cutting business taxes, delivering flexible employment and cutting red tape and regulation.
“Whether your company is established here, expanding here or relocating here, Britain is back open for business and it’s going to be better than before – and better than the competition.”
Business Secretary Dr Vince Cable said: “Inward investment is crucial to the success of the UK’s economy. It creates thousands of jobs for the country and is key to the economic growth of our regions.
“I know how attractive the UK is for doing business. That’s why I’m so pleased that today I can meet with such vital international companies to encourage them to keep bringing business to Britain.”
UK Trade & Investment (UKTI), the Government department which brings high quality investment to the UK, played a role in securing more than half of the 94,000 jobs generated by inward investment, a two-fold increase on the previous year.
UKTI helped to land 759 projects, a 26 per cent increase on the previous year, and a record year.
Highlights from the UK’s 09/10 inward investment results
Investments by country
o The UK received investments from 54 countries around the world, up from 53 the year before.
o The USA remains the number one source of investment with a 14 per cent increase in the number of jobs generated (over 31,500).
o The number of jobs generated by investment from Canada rose by 60 per cent to nearly 3,000.
o Japan has regained its position as the top investor from Asia with project figures up by 27 per cent to 107.
o India is the UK’s fourth largest investor, with inward investment generating 5,889 jobs over the past year.
o China has moved up the ranking to become the UK’s sixth largest investor with a record 74 projects, a 25 per cent increase, accompanied by a 76 per cent increase in jobs generated.
o Emerging economies were strongly represented with increased investment from Turkey, Taiwan and Mexico.
o From the Eurozone, France and Germany held the lion’s share of the projects, with French investment attracting 9,157 jobs from 99 projects, and Germany responsible for 90 projects generating 3,867 jobs. The UK also attracted a 14 per cent increase in projects from Italy and a 35 per cent increase in projects from Spain.
o The 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 per cent increase on last year.
Investment by sector
The UK has the largest industries in Europe for life sciences, ICT, financial services and creative industries, and these sectors remain very attractive.
o The UK recorded a 23 per cent increase in Life Science projects resulting in an 80 per cent increase in associated jobs.
o For ICT, the number of associated jobs increased by 118 per cent from 4,935 to 10,779.
o It was a similar story for the creative and media sector with a 48 per cent increase in the number of associated jobs to 2,327.
o Jobs generated by financial services investment rose 21 per cent.
o The UK attracted 79 projects, a 41 per cent increase, in Environmental Technologies and Renewables, a key growth sector for the UK which is supported by regulatory incentives.
o Investment in the UK’s high-tech manufacturing sector resulted in a 14 per cent increase in job creation, reinforcing the fact that the UK is one of the top six manufacturing nations in the world. Job creation also increased in the services and distribution sectors.
o The number of R&D investment projects increased by 36 per cent. At a time when financing is a key issue for all businesses, R&D is still flowing into the UK.
o There was a 10 per cent increase in headquarters choosing to locate in the UK. The UK is a springboard for global growth, with more than 50 per cent of European headquarters choosing the UK as their base.
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Prime Minister David Cameron said: “Attracting and retaining inward investment is hugely important for our economic recovery.
“We want Britain to be a place where companies can grow and succeed, where the world’s best companies thrive, where great ideas and innovations are turned into great products and where we have a world-class workforce.
“We are determined to deliver the pro-business environment investors need; getting the deficit down to create certainty and stability, cutting business taxes, delivering flexible employment and cutting red tape and regulation.
“Whether your company is established here, expanding here or relocating here, Britain is back open for business and it’s going to be better than before – and better than the competition.”
Business Secretary Dr Vince Cable said: “Inward investment is crucial to the success of the UK’s economy. It creates thousands of jobs for the country and is key to the economic growth of our regions.
“I know how attractive the UK is for doing business. That’s why I’m so pleased that today I can meet with such vital international companies to encourage them to keep bringing business to Britain.”
UK Trade & Investment (UKTI), the Government department which brings high quality investment to the UK, played a role in securing more than half of the 94,000 jobs generated by inward investment, a two-fold increase on the previous year.
UKTI helped to land 759 projects, a 26 per cent increase on the previous year, and a record year.
Highlights from the UK’s 09/10 inward investment results
Investments by country
o The UK received investments from 54 countries around the world, up from 53 the year before.
o The USA remains the number one source of investment with a 14 per cent increase in the number of jobs generated (over 31,500).
o The number of jobs generated by investment from Canada rose by 60 per cent to nearly 3,000.
o Japan has regained its position as the top investor from Asia with project figures up by 27 per cent to 107.
o India is the UK’s fourth largest investor, with inward investment generating 5,889 jobs over the past year.
o China has moved up the ranking to become the UK’s sixth largest investor with a record 74 projects, a 25 per cent increase, accompanied by a 76 per cent increase in jobs generated.
o Emerging economies were strongly represented with increased investment from Turkey, Taiwan and Mexico.
o From the Eurozone, France and Germany held the lion’s share of the projects, with French investment attracting 9,157 jobs from 99 projects, and Germany responsible for 90 projects generating 3,867 jobs. The UK also attracted a 14 per cent increase in projects from Italy and a 35 per cent increase in projects from Spain.
o The 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 per cent increase on last year.
Investment by sector
The UK has the largest industries in Europe for life sciences, ICT, financial services and creative industries, and these sectors remain very attractive.
o The UK recorded a 23 per cent increase in Life Science projects resulting in an 80 per cent increase in associated jobs.
o For ICT, the number of associated jobs increased by 118 per cent from 4,935 to 10,779.
o It was a similar story for the creative and media sector with a 48 per cent increase in the number of associated jobs to 2,327.
o Jobs generated by financial services investment rose 21 per cent.
o The UK attracted 79 projects, a 41 per cent increase, in Environmental Technologies and Renewables, a key growth sector for the UK which is supported by regulatory incentives.
o Investment in the UK’s high-tech manufacturing sector resulted in a 14 per cent increase in job creation, reinforcing the fact that the UK is one of the top six manufacturing nations in the world. Job creation also increased in the services and distribution sectors.
o The number of R&D investment projects increased by 36 per cent. At a time when financing is a key issue for all businesses, R&D is still flowing into the UK.
o There was a 10 per cent increase in headquarters choosing to locate in the UK. The UK is a springboard for global growth, with more than 50 per cent of European headquarters choosing the UK as their base.
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