Lord Green Hails Top European Inward Investment Ranking for the UK

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The UK placed second in the world for attracting inward investment, says UK Trade and Investment

"This is a fantastic vote in the favor of the British economy and British businesses .... Britain is open for business and we warmly welcome overseas investors," said UK Trade and Investment Minister Lord Green.

UK Trade and Investment Minister Lord Green has welcomed today's UN's World Investment Report, which has confirmed that the UK is the top destination in Europe for inward investment.

The UK is placed second in the world for attracting inward investment, after the United States, up from third place last year.

Lord Green said:

“This is a fantastic vote in the future of the British economy and British businesses. Foreign direct investment is critical to the UK economy, safeguarding and creating around 100,000 jobs a year.

"Britain is open for business and we warmly welcome overseas investors, but we can build further on these impressive results. That is why I am hosting a Global Investment Conference and 17 Global Business Summits at the British Business Embassy while the world spotlight is on London during the Olympic and Paralympic Games.

“We all win from attracting foreign investment to the UK. Today, the Shard is opening in London thanks to investment from Qatar. Iconic UK brands such as Jaguar Land Rover and Mini have been strengthened and revitalised by investment from India and Germany. And investors from China and the Middle East are among those building the infrastructure that our country needs for the future.”

Notes to editors

1. The Government's economic policy objective is to achieve 'strong, sustainable and balanced growth that is more evenly shared across the country and between industries.' It set four ambitions in the ‘Plan for Growth’ (PDF 1.7MB), published at Budget 2011:

  •     To create the most competitive tax system in the G20
  •     To make the UK the best place in Europe to start, finance and grow a business
  •     To encourage investment and exports as a route to a more balanced economy
  •     To create a more educated workforce that is the most flexible in Europe.

Work is underway across Government to achieve these ambitions, including progress on more than 250 measures as part of the Growth Review. Developing an Industrial Strategy gives new impetus to this work by providing businesses, investors and the public with more clarity about the long-term direction in which the Government wants the economy to travel.

2. UK Trade & Investment (UKTI) is the Government Department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK’s economy – acknowledged as Europe’s best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information on UKTI, visit http://www.ukti.gov.uk or visit the online newsroom at http://www.ukti.gov.uk/media.

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