A new report has shown that the UK is the top destination for foreign direct investment in Europe and the third worldwide.
The World Investment Report, published on 26 July by the United Nations Conference on Trade and Development (UNCTAD), said the stock of foreign direct investment (FDI) in the UK was $US 1,086 billion in 2010, up from $US1,056 the previous year. The stock of inward investment measures the actual book value of assets held by foreign investors in the UK.
Lord Green, Minister of State for Trade and Investment, said: “This report reinforces the UK’s position as one of the most attractive places to do business in the world.”
The World Investment Report also showed that the UK outperformed the European market. The UK’s share of FDI stock increased while the overall stock of FDI in Europe declined to $7,614 billion (from $7,951 billion in 2009) and that in the EU fell to $6,890 (from $7,296 in 2009).
Earlier in July, Business Secretary Vince Cable published figures showing that inward investment created or safeguarded 94,598 jobs created in 2010/11.
Over two-thirds of the new jobs came from existing investors, indicating that businesses already operating in the UK are growing and stimulating growth.
LINK: UKTI press release