- PM announces UK’s second Global Investment Summit to take
place in October.
- Summit will bring 200+ CEOs of multinational companies and
investment corporations to showcase the UK as a world-leading
investment destination.
- Latest figures show UK Foreign Direct Investment (FDI) stock
reached £2 trillion in 2021, creating tens of thousands of
high-value jobs across the UK.
Over 200 of the world’s highest profile investors, CEOs and
financiers are expected to come to the UK in October for a second
Global Investment Summit (GIS 23) – the Government announces
today (Friday 10 February).
GIS 23 will aim to raise billions of pounds of high value
investment to create thousands of jobs across the UK, with a
special focus on high tech sectors such as innovation, research
and development.
The event will build on the success of the inaugural Global
Investment Summit in October 2021, that brought together over 170
CEOs to showcase the UK’s commitment to green investment ahead of
COP26.
The 2021 Summit secured £9.7 billion of new foreign investment on
the day, creating over 30,000 new jobs and supporting growth in
vital sectors such as wind and hydrogen energy, sustainable
homes, and carbon capture and storage.
Leading the Summit is the newly formed Department for Business
and Trade, created by the Prime Minister to support UK businesses
to invest, grow and export around the world and to create jobs
and prosperity across the UK.
The Prime Minister will confirm the UK is hosting a second Summit
during a meeting of the Investment Council on Friday, where he
will address global investors to set out his priorities for
creating jobs and growing the economy.
Prime Minister said:
“This week we drove serious change from the heart of government
by creating four new departments. This was done to deliver on the
promises and priorities of the British people, and to go further
and faster on our ambition to drive jobs and growth in every part
of the UK and ensure we are at the cutting edge of technology and
innovation.
“The next Global Investment Summit is an opportunity to
demonstrate what we can do as a nation, delivering on our
ambition to be the a world-leading destination for international
finance and investment.”
Business and Trade Secretary said:
“Investment creates high quality jobs and grows our economy.
“I started the year setting a goal of the UK becoming the
undisputed number one investment destination in Europe. Events
like this will help deliver this and show the world’s biggest
investors just what a strong investment prospect the UK can
offer.
“Overseas investment has already led to 85,000 new jobs in
2021/22 alone, and I want to us to go further, driving growth and
putting more money in the pockets of hardworking Brits.
This year’s event will showcase emerging UK success stories in
life sciences, deep tech, nuclear fusion and small modular
reactions (SMRs), and manufacturing, with capital investment
driven by the post-EU Exit financial liberalisation encapsulated
in the Edinburgh
reforms.
Minister for Investment Dominic Johnson said:
“The UK remains open for business. I greatly look forward to
welcoming investors at the Global Investment Summit and
showcasing how the UK has reached over £2 trillion in inward
investment stock.
“Our low-tax, high-skill economy is unrivalled in offering strong
returns, innovative businesses and a rule of law that is emulated
around the world.”
Notes to editors:
- The UK Investment Council was established and formed under
the chairmanship of the Minister for Investment in April 2021 to
provide a platform for 42 influential global investors so that
they can highlight their perspectives, priorities and concerns
relating to UK inward investment and use it as an opportunity to
influence Government’s future approach to investment policy.
- Their high-level expertise and advice help to guide the
discussion happening around the table and to inform DIT and wider
Government to ensure the UK’s remains one of the leading
destinations for foreign investment. The Council also provides an
opportunity for HMG to amplify its investment objectives to
senior industry leaders.
- The Council, though separate, operates in collaboration with
the Office for Investment and has proven highly effective in
gathering investor insights and improving the quality of
Departmental stakeholder engagement.
