Figures out today, from the Department for international trade, shows the UK has increased inwards investment by 4% 2019/2020 financial year. This shows an increase from the previous years and means we have 1,852 new projects kick-starting in the UK.
The number one source of foreign direct investment into Britain is the United States with 462 projects, generating 20,131 jobs in Britain. The second-largest source of investment is India, followed by Germany, France, China and Hong Kong. Australia and New Zealand were responsible for 72 projects, and the Nordic and Baltic region 134, which is a more significant increase for both areas.
In 2019 Forbes voted Britain as their number one place for investment, this comes after previous years of doom and gloom predictions from the EU and Pro remain lobbies who predicted a fall of investment coming into the UK due to leaving the European Union.
The total investment in the UK. England and Wales saw an increase in Projects, where Scotland saw a decline from the previous year.
While the number of jobs from direct foreign investment has declined, an FDI report suggests the amount of UK jobs safeguarded by FDI increased by 29%. DIT worked closely with existing investors to safeguard 26% more jobs compared to 2018 to 2019, demonstrating the broad range of support DIT delivers for the UK economy by promoting investment.
Here’s why a future 🇬🇧-🇺🇸 free trade agreement is top of our agenda 👉— Department for International Trade (@tradegovuk) July 10, 2020
New figures out today show 20,131 new jobs were created across the UK in 2019-2020 as a result of US foreign direct investment alone.
Find out more 👉https://t.co/UKGThfNPZz pic.twitter.com/yJa3A0j69a
International Trade Secretary, Liz Truss said:
“These figures further demonstrate the resilience of the UK economy and the work of the Government to continue to build and attract inward investment into the UK. Future trade agreements will deepen our economic relationship with key sources of investment such as the US, Japan, Australia and New Zealand.”
“There is still work to be done in our levelling up agenda, to ensure all regions of the United Kingdom reap the benefits of inward investment, increasing jobs and prosperity across the nations, and these free trade agreements will contribute to this.”
Developing key sectors such as advanced manufacturing, life sciences, and renewable energy will help us to rebound post-pandemic and build on our attractive business environment across the UK for investors around the globe.
This year, DIT’s statistics also include the Cambridge and Oxford Arc, a priority area for Government, while the GREAT Investors Program data has also been included showcasing the strengthening of growth capital investment in the UK.