Inward investments boosts UK jobs

Strong inward investment in the UK created or secured more than 112,000 jobs in 2011/12, a rise of 19 per cent on the preceding year, according to new figures.

Statistics announced on 26 July revealed that inward investment created 52,741 new jobs, a 26 per cent increase on 2010/11, and secured 59,918 existing jobs, an increase of 14 per cent.

The UK continues to attract more foreign direct investment (FDI) than any other European country, generating more than 1,000 new jobs each week.

Jobs have increased across a range of sectors, including advanced engineering, life sciences, environmental technologies and the creative industries.

The UK attracted investment from 58 countries. The USA remains the largest investor and China is now the third largest creator of new projects. After the US, French investment generated more jobs than investment from any other country.

Meanwhile, the largest series of trade and investment events ever held in the UK began on 26 July, to showcase inward investment opportunities during the Olympic and Paralympic Games. The government expects more than £1 billion of deals and projects to be announced over the summer.

Business Secretary Vince Cable said: “This summer is more than just a great sporting spectacle – it is an unrivalled opportunity to promote the best of British industry and make the most of our openness to foreign trade and investment.”

Link: British Business Embassy