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Inward investment brings 4,800 new jobs a month to the UK
Over 57,000 new jobs were created as a result of inward investment from foreign direct investment projects in 2018/19.
Figures from the Department for International Trade published today (26 June), show 1,782 new inward investment projects were recorded in 2018/19, creating over 57,000 new jobs and safeguarding nearly 7,000 jobs in the UK.
The figures published today complement recent reports that show that despite a competitive global investment environment, the UK continues to attract more foreign direct investment projects than any other country in Europe.
Of the number of projects that the UK attracted, the Department for International Trade helped to secure 81% of them.
The figures also show UK regions increasing their share of total UK FDI projects since 2016/17. The Midlands Engine and Northern Powerhouse regions saw a 2.6 percentage point and 1.4 percentage point increase in their total share of UK projects.
The software, life sciences and oil & gas industries all saw an increase in the number of jobs attracted into their sectors.
International Trade Secretary, Liam Fox MP said:
Despite global economic headwinds and a competitive investment environment, the UK continues to be the number one destination for foreign direct investment in Europe, accumulating more FDI stock than Germany and France combined.
Today’s figures show the UK remains extremely attractive to foreign investors, particularly our European neighbours.
My department will continue to promote the strengths of the UK as a great inward investment destination, with an open, liberal economy, world-class talent and business friendly environment.
Figures from 2018/19 show an increase in the number of FDI projects coming from a number of European countries including Ireland, Netherlands, Italy and France, where inward investment projects have increased by 10.4%, 7.1%, 6.3%, and 4.3%, respectively.
The US continues to be the UK’s number 1 source of foreign direct investment investing in 440 projects in the UK, with Germany in 2nd place and India in 3rd place for the number of investments made.