BRIEFING UK TOPS FDI destination list
The World Investment Report, published by the United Nations Conference on Trade and Development (UNCTAD), shows that the UK is the most favoured destination for foreign direct investment (FDI) in Europe and third worldwide. According to UNCTAD, the stock of FDI in the UK is US$1,086bn, an increase on the previous year. This contrasts with a decline of overall stock of FDI in Europe to US$7,614bn (from US$7,951bn in 2009). Lord Green (pictured left) said: “This report
reinforces the UK’s position as one of the most attractive places to do business in the world.” The UK has benefi ted from increased levels of investment in manufacturing, electronics and IT.
Tech City gets royal backing The Duke and Duchess of
Cambridge attended a debate on the future of Tech City as part of their recent visit to the United States of America, highlighting the cluster of technology, digital and creative companies based in the east of London which is the fastest-growing tech hub in Europe. The session, held in Los Angeles as part of a New Media and Venture Capital Conference organised by UK Trade & Investment and Variety, focused on the ar, focused on the area’sea’s
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growing focus for high-tech FDI and upon the close commercial relationship between the US and the UK.
Susan Haird, then acting CEO of UK Trade & Investment, said: “I am extremely pleased that, during their visit to America, they took the time to help promote the UK as a destination for US companies and venture capitalists and, more specifi cally, to help highlight Tech City as an ideal location for creative, digital and technological companies.”
Energy programme helps to fast track business in Nigeria
SMEs are being given a fast track to business opportunities in Nigeria through a joint programme between energy company Shell and UK Trade & Investment. A group of UK SMEs recently travelled to the Nigerian capital Abuja to meet potential partners and to be briefed on business opportunities in the country’s burgeoning oil and gas sector. UK Trade & Investment estimates potential new business could be worth as much as £3bn, while UK fi rms have already won an estimated £240m in new contracts. T
The UK/Nigeria Oil & Gas Supply Chain Engagement Pro Programme will brief over 400 companies by the end of 2011.
IS THE LARGEST INWARD INVESTOR IN THE UK with 388 projects created in 2010/11, generating 36,424 new and safeguarded jobs
54 COUNTRIES A RECORD
invested in the UK during 2010/11 through 1,434 foreign direct investment projects
212 A GROWTH OF per cent
in associated job numbers in fi nancial services was reported during 2010/11, matched by strong increases in contact centres and e-commerce
With technology at our disposal, a favourable exchange rate and millions of online customers ready to buy niche products and services, there’s never been a better time to go global. Kate Castle recognised a gap in the market while camping in Dorset. After researching and sourcing suppliers via international trade platform, alibaba. com, she successfully launched Bog-in-a-Bag (
boginabag.co.uk) which, as the name suggests, brings relief to campers, festival goers and many others! This mum of two is busy supplying stores across the UK with plans for further international expansion. “My story shows you can start a business and soon be trading across the world. It’s been incredible,” says Kate. Her story and others will be told at Global Entrepreneurship Week (14-18 November). If you are considering exporting, this is an ideal
opportunity to pick up tips, meet peers and learn from experts on how to trade overseas.
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