Foreign investment is boosting UK economy.
Foreign investment is providing a massive boost to the UK economy, and is creating nearly 2,000 jobs each week.
The new figures released today also show that two thirds of these jobs came from existing investors, demonstrating how companies from abroad are staying and investing in the British economy.
Sectors, which are set to benefit from this trend, are financial services, environmental technologies, e-commerce and software services.
Many businesses in the region have already benefited from this inward investment, and will continue to do so as the North East further cements its position as an eco-friendly area.
UK Trade & Investment Regional Director for the North East David Coppock, said“ “It is clear from the export success that North East firms are having that overseas companies enjoy doing business with the region, and want to do more.
“This will ensure that the North East us regarded as a prime location for overseas companies looking to locate to the UK – particularly in sectors where we know the region is already leading the way, such as low carbon, engineering and life sciences.”
The UKTI’s Inward Investment Services network are now responsible for overseas investment in the UK, and this single hub will provide companies who are interested in exporting with a clear point of entry to gain professional advice. The organisation will actively champion the UK’s strengths, and hopes to secure inward investment to maintain the economy.
At the UKTI’s Business Summit, Vince Cable said: “When a business locates in the UK it can have a positive impact on local jobs and improving skills across the country.
“With more overseas companies choosing the UK to set up their headquarters than anywhere else, we are in a good position to capitalise on these opportunities.”
GE are one of the international businesses who have benefited from investing in their UK operations. The company have already invested over £14 billion in acquisitions over the pat 10 years in the UK.
Mark Elborne, President and CEO of GE UK said: “The depth of skills and manufacturing tradition in this country are extremely attractive to a company like GE, which explains why we have chosen to locate over a dozen global centres of excellence here - researching, designing and manufacturing innovative solutions which helps to solve some of the world’s biggest environmental and healthcare challenges.”