Foreign investments to create over 350 high-tech jobs in ‘vote of confidence’ for UK economy
A raft of foreign investments is set to bring hundreds of new high-tech jobs to the UK’s fintech, IT and advanced engineering sectors.
Announced over the weekend by the the Department for International Trade (DIT), the 11 deals are expected to create 359 job opportunities in Newcastle, Leeds, London and Reading.
The investments, several of which came from Brazil, Argentina and India, are the result of the DIT’s work in over 100 countries to promote the UK to overseas investors.
They included Argentine software company Globant’s £32m expansion in London, where it is recruiting 140 people; US AI software business ThinCI creating a new base and 40 jobs in Leeds; and American electronics firm Avnet acquiring British IT company Hanhaa for £5m, creating 25 new jobs.
International Trade Secretary Dr Liam Fox (pictured above) commented: “It’s easy to see why the UK is Europe’s top destination for foreign direct investment. Our country is home to world-leading research and development capability, as well as a culture of innovation.
“My international economic department has a network of Trade Commissioners operating across the world, seeking investment opportunities that will help create jobs and improve the lives of people in the UK.”
He continued: “Today’s announcement is further evidence that the UK is one of the most attractive places in the world to invest and demonstrates a vote of confidence in our economy and our people.”