UK enjoys record inward investment
The UK recorded its highest number of inward investment projects to date in the last financial year.
A record 1,066 investment projects created 39,000 new jobs, figures published today by UK Trade and Investment show.
The projects ranged from research into cardiovascular diseases in Scotland to manufacturing avionics in the South West.
Trade and Industry Secretary Alan Johnson said it was vital that Britain maintained the momentum by adding value and exploiting new technology.
“In an increasingly global market place, established economies like the UK cannot compete on the basis of low labour costs,” he said.
Foreign Secretary Jack Straw added: “Inward investors recognise we’ve taken a lead in deregulating and opening up markets to international competition. Our openness to investment and commitment to free trade are essential for our continuing prosperity.”
The UK continues to be Europe’s top investment destination.
