The UK’s education system, skilled
workforce, telecoms, airports, and legal and fi nancial infrastructure all help attract investment from abroad, as do factors such as political stability, urban and rural environment and cultural facilities. Driffi eld also believes language is an important plus for the UK: “It still seems to matter,” he says. “It’s one reason we do better than the European average – English is everybody’s second language. Plus we have far more fl exible labour markets. It’s easier to start a business here.”
LENDING SUPPORT UK Trade & Investment aims to explain these attributes to companies looking to invest internationally. Government aid to incoming fi rms can help, as can initiatives such as the recently established Innovation Investment Fund, which aims to become Europe’s largest technology fund, committed to creating highly skilled jobs in sectors such as digital technology, advanced engineering and biosciences. The Government, rather than investing
directly into companies, is putting £150m into a ‘fund of funds’ that could leverage another £850m to help start-ups, spin-
offs and other ventures fi nding fi nance diffi cult to raise. Innovative fi nance is as important
as technological advances and UK Trade & Investment is now courting foreign investors to fi nance the £200bn of UK infrastructure requirements the Government has identifi ed. Levi explains: “High-speed rail,
renewable energy, and the like, all require capital and the previous strategy did not focus on how to bring in that capital except through the companies themselves. But there are pension funds and sovereign wealth funds that may require our assistance.” UK Trade & Investment can call on
ministers and ambassadors to explain the UK’s strengths in these areas and prides itself on its relationships with senior executives abroad. “We have a unique global network
in 96 countries, with investment teams in 33,” states Levi. “We would be able to arrange a promotional effort, usually at a very high level. This is an area of work where we are rapidly ramping up our activity and expertise in line with the new priorities the Government has been setting.”
Traditional sectors are also
highly valued. One of UK Trade & Investment’s greatest successes has been in attracting Japanese motor manufacturers. Nissan, for example, has chosen northeast England for producing what it describes as the world’s fi rst affordable mass-produced zero-emission car, safeguarding some 2,250 jobs. The electric Leaf vehicles, and their batteries, are being built at a £420m facility partly fi nanced by a £20m UK Government grant and a £200m package from the European Investment Bank. Andy Palmer, Nissan’s senior vice-president in the UK, says: “Thanks to the UK’s fi rm commitment to a low-carbon future in terms of infrastructure, customer incentives and educational programmes, Nissan Leaf will be built at Sunderland, making the UK the third country to produce this revolutionary car.” “It is a huge success story, forged
through very strong strategic relationship management with Nissan,” states Levi. “Achieving this to the highest standard, across a wide range of key companies, and in a genuinely whole government approach, is a key priority for the future.” e
springboard: |
www.ukti.gov.uk | page 15
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