Dear BABC Members,
I hope you are enjoying your summer and looking forward to attending the exciting programs we have planned for the Fall. In the meantime, I would like to share UK Trade & Investment (UKTI)’s recently released annual Inward Investment Report.
The report notes that there were 1434 foreign direct investment (FDI) projects undertaken in the UK last year creating nearly 95k jobs. The number of projects was down from the previous year – though still one of the highest figures ever-recorded – but the number of jobs associated with these projects (both created and safeguarded) is up. Two-thirds of the new jobs created came from existing investors.
The US remains by far the largest source of foreign investment in the UK, accounting for 388 (or 27%) of the UK’s total number of FDI projects which is more than the combined figure for the next four largest investors (Japan, India, Germany and France). US investments created or safeguarded more than 36,000 UK jobs (or 38% of the total number of jobs created or safeguarded). As with the global figures, the number of US projects was down from 2009/10 but the number of jobs created or safeguarded as a result of them was up.
Also available for your review is the press release that was issued regarding the report. You will see that this included a strong statement from the Prime Minister underlining the Government’s determination to ensure that the UK remains the go-to location for overseas companies. GE UK and HP Enterprise Services both contributed statements to the press material for the launch. GE praised the UK’s technology expertise, manufacturing sector knowledge and innovation. HP complimented the “UK’s deep pool of highly-skilled people and the positive environment for enterprise and innovation.”
We hope you find the material of interest and, as always, please feel free to contact us if you have any questions about the report or wish to obtain more information about investing in the UK.
You may access both the complete report and the press release via these links UK INWARD INVESTMENT REPORT 2010/11 & PRESS RELEASE . Both documents will be permanently housed on our website.
Best regards,
Hope P. Krebs, Esq.
President, British American Business Council of Greater Philadelphia
