British trade chief announces global drive to attract overseas investment

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Source:Xinhua

British International Trade Secretary Liam Fox launched a global investment drive Thursday aimed at attracting more than 40 billion US dollars to 68 major projects across Britain.

Fox announced the drive at a meeting of the government’s Board of Trade in Stirling, the first time the board has ever held a meeting in Scotland.

Fox, International Trade Secretary and President of the Board of Trade, said: “This is a bold and ambitious program, building on the UK’s position as the leading destination for foreign investment in Europe through the government’s modern Industrial Strategy, helping to build a Britain fit for the future.

“With more than 30 billion pounds worth of new opportunities, my international economic department’s overseas network is working hard to attract top investors to the UK.”

The 68 projects, with more to be added over the coming months, will also be promoted through a revamped online one-stop for potential investors, said Fox’s spokesperson.

Fox also announced an extension of the highly successful High Potential Opportunities scheme, being piloted in Doncaster’s rail industry, Telford’s agri-tech sector, and Greater Manchester’s innovative Graphene-based lightweight materials sector.

The Department for International Trade (DIT) works directly with companies in 177 cities in 108 countries around the world. Last year, DIT helped attract 2,265 investment projects which created or safeguarded 108,000 jobs in Britain.

Carolyn Fairbairn, director-general of the Confederation of British Industry said: “The International Trade Department’s drive to attract billions of dollars worth of investment to projects in each corner of the country is warmly welcomed by firms.”

Posted in: ECONOMY

 

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