Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
The UK is and will continue to be an attractive destination for inward investment, David Landsman, Executive Director of Tata Limited and Trevor Williams, Chief Economist at Lloyds Bank Commercial both told an audience of business leaders and investors at an exclusive networking reception held at Asia House in partnership with Lloyds Bank.
The UK has maintained its position as the number one destination for FDI in Europe in 2015 bringing in the largest financial value and associated jobs. Over the past year, the UK has attracted a record number of FDI projects, up 12 per cent in the 2014/2015 financial year compared to the previous year, and brought in the largest inward FDI stock Europe, valued at over £1 trillion.
The value and volume of Asia’s outbound investment is growing rapidly too. According to the 2014 United Nations Conference on Trade and Development’s World Investment report, Asia accounted for 23.1 per cent of the world’s FDI outflows in 2013, up from 17.8 per cent in 2011.
Given favourable tax rates, a diverse and skilled work force and innovation potential, the UK stands in a solid position to benefit from FDI outflows, they said.
“There are three reasons to continue to be optimistic about the future of UK inward investment. Emerging economies are set to grow at a rapid pace, the strength of the UK’s attractiveness will grow, and the rise of technology will remain central,” Mr Landsman said.
Looking to the future “the UK economy should remain as open as it is to maximise the opportunity,” Mr Williams said.
Trevor Williams, Chief Economist at Lloyds Bank Commercial, also gave a speech at the reception. Image credit: Paul Clarke
UKTI statistics show that FDI into the UK in the 2014/2015 financial year came from more than 70 countries, including the world’s leading emerging markets. Investment from India increased by 65 per cent making it the UK’s third largest source of FDI accounting for over 9,000 new and safeguarded jobs. There was also evidence of a strengthening relationship with China with 112 projects, including 13 from Hong Kong in 2014/15, resulting in almost 6,000 new and safeguarded jobs.
There were lots of opportunities to network at the event which was held in partnership with Lloyds Bank. Image credit: Paul Clarke
samantha.deave@asiahouse.co.uk
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