fDi Markets Newswire:

Home / Locations / Europe / United Kingdom / Online tool unveiled to bring FDI to UK

Department for International Trade announces tool to promote $43bn-worth of FDI ahead of the Commonwealth Heads of Government Meeting. Sebastian Shehadi reports.

Two days before the 2018 Commonwealth Heads of Government Meeting (CHOGM), the UK's international trade secretary, Dr Liam Fox, announced the launch a new digital tool to promote more than £30bn- ($43bn)-worth of FDI opportunities aimed at driving growth across the country.

The UK’s Department for International Trade (DIT) said the online portfolio portal – called UK Invest – would be hosted on GREAT.gov.uk and will provide a speedy, hassle-free signpost for international investors looking to gain access to or grow their existing holdings in the UK economy. The initiative, set to launch in the coming weeks, will publicise more than 60 FDI opportunities across the country.

“UK Invest will work with every part of the UK to identify investment opportunities, and ensure the strong appetite for investing in the UK generates prosperity and jobs in every part of the country”, said Mr Fox.

The announcement came three days before the start of CHOGM, which runs between April 16 and April 20. The week-long summit, held in London, is expected to attract leaders from 53 commonwealth countries, alongside about 5000 participants from government, business and civil society. Commonwealth countries export more than $3000bn in goods and services each year.

In an interview before CHOGM, Roberto Azevedo, the director-general of the World Trade Organization, urged Commonwealth countries to better facilitate poverty-reducing trade through increased investment, especially in infrastructure. “For example, Africa’s infrastructure investment needs are estimated at about $120bn to $150bn annually – with a financing gap of about $60bn to $80bn per year. In the Asia and Pacific region, infrastructure needs to the year 2030 are estimated to exceed $22,600bn,” he added.

The DIT’s announcement also followed statistics released in mid-April by the Office for National Statistics which reveal that UK exports rose 10.4% to £627.6bn between March 2017 and the end of February 2018, with increases in both goods and services and a £12.9bn reduction in the trade deficit.

A new report from HSBC also stated that the export boom looks set to continue in the coming years, predicting that the value of UK exports of goods and services will rise by 22% by 2020, and double by 2030.

DIT is the focal point for foreign investment capability across the UK government, and it claims to have attracted a record 2265 FDI projects in 2016/17, up 2% on the previous year - which is estimated to have created or safeguarded more than 108,000 jobs.

This article is sourced from fDi Magazine
fDi Magazine

The fDi Report 2018: Free Download

The fDi Report 2018 promobox

Crossborder investment monitor

fDi Markets - Cross border investment monitor

fDi Markets is the only online database tracking crossborder greenfield investment covering all sectors and countries worldwide. It provides real-time monitoring of investment projects, capital investment and job creation with powerful tools to track and profile companies investing overseas.

Click here to find out more about fDi Markets

Corporate location benchmarking tool

fDi Benchmark is the only online tool to benchmark the competitiveness of countries and cities in over 50 sectors. Its comprehensive location data series covers the main cost and quality competitiveness indicators for over 300 locations around the world.

Click here to find out more about fDi Benchmark

Research report

fDi Intelligence provides customised reports and data research which deliver vital business intelligence to corporations, investment promotion agencies, economic development organisations, consulting firms and research institutions.

Find out more.