New statistics from the Department for International Trade (DIT) has revealed that the number of foreign direct investment (FDI) projects in the UK for the 2019/2020 financial year increased.
The DIT’s latest data shows that the UK attracted 1,852 new inward investment projects last year – an increase of four per cent on 2018/19.
By breaking down the figures it is possible to see that the US continues to be the number one source of FDI in the UK – delivering 462 projects and more than 20,000 jobs.
The second-largest source of investment came from India, followed by France, China and Hong Kong.
During 2019/2020, Australia and New Zealand (72 projects) and the Baltic region (134 projects) saw an increase in inward investment to the UK.
The number of UK jobs safeguarded by FDI also increased by 29 per cent, as the DIT worked closely with existing investors to safeguard 26 per cent more jobs compared to 2018/2019.
In response to the latest figures, the UK’s International Trade Secretary, Liz Truss said: “These figures further demonstrate the resilience of the UK economy and the work of the Government to continue to build and attract inward investment into the UK. Future trade agreements will deepen our economic relationship with key sources of investment such as the US, Japan, Australia and New Zealand.
“There is still work to be done in our levelling up agenda, to ensure all regions of the United Kingdom reap the benefits of inward investment, increasing jobs and prosperity across the nations, and these free trade agreements will contribute to this.
“Developing key sectors such as advanced manufacturing, life sciences and renewable energy will help us to rebound post-pandemic and build on our attractive business environment across the UK for investors around the globe.”
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