By David Hanson MP / Latest News / 0 Comments

Hanson Hails Record Number of Inward Investments

Delyn MP David Hanson has welcomed the latest figures, released by UK Trade & Investment, which show that the UK won a record 1,431 investment projects from overseas companies in 2006/7.

The latest figures show a 17 per cent increase helping to create over 36,000 new jobs, and help to safeguard more than 41,000, bringing employment and wealth to every area of the UK. The UK – with its business friendly environment, political and economic stability, world-class creative talent, and strong research and development base – continues to act as a powerful magnet for foreign investors.

Key figures from the report include:

  • Total projects up 17 per cent from 1,220 to 1,431
  • 36,526 new jobs created and a further 41,831 safeguarded, bringing the total number of associated jobs to 78,357
  • 600 of the total were new projects, accounting for 55 per cent of all the new jobs created
  • 334 of the total were expansions by existing investors, accounting for 41 per cent of all the new jobs created
  • 47 per cent increase in headquarters operations, to 223 projects
  • Business services up 122 per cent, to 156 projects; financial services up 32 per cent to 99 projects
  • Software and computer services up 82 per cent to 274 projects
  • Life sciences up 37 per cent to 133 projects
  • Mergers/acquisitions and joint ventures, accounted for 497 of the total number (up by 32 per cent on last year)

David Hanson said:

“This is now the fourth consecutive year that the UK has attracted a record number of investment successes, maintaining its position as the largest recipient of foreign direct investment in Europe and second only to the US world-wide.

“This Government’s determination to help businesses succeed is driving economic progress and has helped get 2.5 million more people in work over the last ten years and drive down unemployment by over 45 per cent in Delyn.

“The success of Airbus here in Flintshire proves that the UK can compete on the international stage, despite increasing competition and the challenges of globalisation.

“Working with the Government and local businesses I want Flintshire to continue to offer a attractive environment for inward investment. On top of this the Government must work with businesses, like Airbus, to ensure they have the investment they need to grow within the UK.”