UK sees record number of foreign investment projects
The Department for International Trade has said that a record number of investments were made by overseas companies in the UK in the year to April 2016. The department recorded 2,213 inward investment projects over the period, up 11% on the previous year, and its data shows the UK is the most popular destination in Europe for foreign firms. The US was the biggest source of funds, backing 570 projects, but Britain was also Europe’s biggest recipient of investment from emerging markets, with 156 projects backed by Chinese firms and 140 boosted by Indian cash. Projects funded from Latin America more than tripled, up 240%, and East European investment increased 131%.
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Comment from Richard Graham MP, Chair of the All Party Parliamentary China Group:
“The 11% rise of UK inward investment highlights the openness of our economy, but also the importance of both US and China (which includes Hong Kong) to our inward investment: China contributed 156 of the total 2,213 projects in the year ending April 2016 (DIT stats). We should remain open to inward investment.
“It is also good to see highlighted the growth of Indian investment, and in % terms from a low base, South America and Eastern Europe.
“This APPG welcomes Chinese inward investment, and strongly supported the Hinkley Point deal, which is vital to our nuclear capacity and our overall domestically generated energy. There will be other important infrastructure opportunities for Chinese and other overseas investors, and I expect positive announcements on this during the Autumn Statement.”