UK inward investment holds up under pressure
An
UK Trade and Investment product story
Edited by the Engineeringtalk editorial team
Jul 22, 2003
The UK continues to perform strongly in inward investment, Ministers have confirmed.
The UK continues to perform strongly in inward investment, Ministers have confirmed.
Trade and Industry Secretary Patricia Hewitt has announced that despite the uncertain global economy, the UK had attracted 709 investment projects in the year 2002/2003, creating more than 34,000 jobs.
Figures reported by Invest UK, the Government's inward investment operation, show that in the financial year 2002/2003: a total of 709 investment projects from 35 countries were reported - down by just 7% from the previous year's figure of 764; the number of new jobs created by these projects was higher than last year at 34,396; and 548 new investments and expansions were recorded (excluding mergers and acquisitions) - the second highest level ever recorded by Invest UK.
Hewitt said: "Britain is an excellent place to do business because of the economic decisions we have taken in government.
"We have the lowest inflation for 30 years, the lowest interest rates in 40 years and the highest employment ever, and our economy - unique in the G7 - has avoided recession.
It is no wonder we are number one for inward investment projects in Europe.
We have a lot to offer potential investors.
But we must not be complacent.
The recent Government assessment on the Euro showed that if we can make the necessary changes to the economy in the national economic interest to ensure that the tests of flexibility and convergence are met - then there will be new opportunities for investment, in particular foreign direct investment".
The Annual Review 2003 shows that knowledge-based investments continue to lead the way despite the continued downturn in information and communications industries, making the UK the leading location for software investments and high value R and D.
Low barriers to entry, a flexible and motivated workforce and world-class universities with leading research facilities have all contributed to the UK's competitive position.
William Pedder, Chief Executive of Invest UK said: "Investment from our largest markets, the USA and Canada stood up well last year despite the challenging environment created by business uncertainty and I am pleased to see the increasing number of investments from emerging markets in Asia Pacific, where Invest UK has reinforced its staff in the field.
The volume of new startups at 314 is still at the record levels of 2001 and the number of expansions has held firm.
The fall of 33% in mergers and acquisitions - reflecting the global trend - had the effect of reducing total project numbers compared with last year".
Not what you're looking for? Search the site.
Google Ads
Contact UK Trade and Investment
Related Stories
- Parker opens new store in Gillingham
- National Instruments - latest company news
- Our new lead generation service!
- Schaeffler - latest company news
- Leuze Electronic - latest company news
Articles by product category
- Consultancy and Services (903)
- Machine Building (4,517)
-
Engineering Design Software (6,179)
- Engineering Design Software (12)
- 2D CAD software (200)
- 3D CAD software (1,157)
- FEA and structural analysis software (369)
- Fluid, thermal, noise, vibration software (334)
- Simulation, modelling, validation software (914)
- Rendering, visualisation, styling software (196)
- Materials design and moulding design software (151)
- Process, instrumentation, automation software (258)
- Electrical design software (164)
- Publishing and documentation software (229)
- Maths, charting, statistics, QA software (317)
- Data, document management software (310)
- CAM, CNC, production management software (568)
- File conversion software, data capture (351)
- PLM and collaboration software (649)
-
Drives, Motors and Controls (3,361)
- Drives, Motors and Controls (1)
- Precision Motors and Gears (411)
- Industrial Drives/Controls (1,276)
- Linear Drives and Motors (114)
- Industrial Motors (497)
- Stepper and Servo Drives, Motors, Controls (1,060)
- Small Mechanical Components, Joining, Tools (1,975)
-
Control and Instrumentation (5,028)
- Plantwide control (1,324)
- Plant- and Machine-Wide Communications (1,174)
- Smaller-Sized PLCs (387)
- CNC and Motion Controllers (184)
- Mid-range and Large PLCs (201)
- Power Supplies, Uninterruptible Power (562)
- HMIs/Operator Interfaces (294)
- Logic Controllers, Timers and Relays (96)
- Cabling, Conduit, Signal Conditioning (806)
-
Monitoring, Measurement and Quality (5,459)
- Monitoring, Measurement and Quality (1)
- Data acquisition Software and Communications (494)
- Data Acquisition Hardware and PC I/O Boards (472)
- Electrical and Electronic Testing, PAT Equipment (630)
- Form/co-ordinate, optical, vision instruments (703)
- Gauges, Indicators and Instruments (440)
- Data loggers (422)
- Materials testing equipment (421)
- Telecomms/network test equipment, software etc (154)
- Testing and Calibration Services and Information (500)
- Testing, analysing and monitoring equipment (1,222)
-
Electrical and Electronic Equipment Design (4,160)
- Batteries, chargers and circuit protection (555)
- Connectors, Terminals, Busbars, Slip Rings (679)
- Enclosures and Equipment Cooling Fans (709)
- Knobs, Handles and Enclosure Hardware (420)
- PCs and Embedded Systems (798)
- Electrical and Electronic Subassemblies (369)
- Electrical and Electronic Components (630)
-
Materials and Processing (2,963)
- Materials and Processing (5)
- Materials and components (2,215)
- Rapid Prototyping (458)
- Materials processing and testing (285)
-
Engineering Industry News, Resources (6,093)
- Engineering Industry News, Resources (4)
- Engineering Business News, Views (388)
- Engineering Exhibitions, Events (562)
- Engineering Conferences (425)
- Engineering Seminars (400)
- Engineering Industry Developments, Awards (633)
- Engineering Guides, Newsletters (349)
- Engineering Recruitment, Employment (219)
- Engineering Training Courses (433)
- Engineering Education, Resources, Standards (838)
- Engineering Industry Reports, Surveys (597)
- Electronic Resources for Engineers (278)
- Health and Safety Legislation (402)
- Health and Safety Strategy, Risk Assessment (113)
- Health and Safety Consultancy, Software (175)
- Health and Safety Events, Training, News (277)
-
Powertrain Design (3,598)
- Powertrain Design (2)
- Bearings (939)
- Chains and belts (326)
- Gears, brakes, couplings and engines (1,441)
- Hydraulic Components (471)
- Lubricants (418)
-
Capital Equipment (3,387)
- Capital Equipment (1)
- Manufacturing Machinery and Plant Equipment (468)
- Production line blowers and fans (62)
- Compressors and Air Treatment (510)
- Electronics Manufacturing, Tools, Instruments (192)
- Electrical hardware (131)
- Machinery and Production Equipment (1,093)
- Robotics, Handling and Storage (930)
-
Sensors (7,080)
- Sensors (8)
- Accelerometers and Vibration Sensors (427)
- Loadcells, Force Sensors, Torque Sensors (699)
- Pressure sensors (621)
- Flowmeters and Flow Sensors (618)
- Level Sensors and Leak Detectors (527)
- Linear Position Sensors (399)
- Rotary Position, Tilt and Angular Sensors (546)
- Proximity Sensors (700)
- Gas, Chemical, Radiation, Magnetic Sensors (284)
- Humidity and Environmental Sensors (152)
- Temperature sensors (612)
- Vision and Colour Sensors (1,384)
- Barcode Sensors (103)
- Valves, Pumps, Process Hardware (3,623)
