The UK has confirmed the first sponsor for the Global Investment Summit.
Hosted by the Prime Minister and and supported by members of the Royal Family, the summit will showcase British innovation, demonstrate commitment to green industries of the future ahead of COP26, and promote UK as the best destination for foreign investment.
British banking giant Barclays will be one of several sponsors to be announced in the lead up to the event. Barclays has an ambition to be a net zero bank by 2050 and committed to £100bn of green financing by 2030 in line with the Government’s clean growth agenda.
The announcement comes as the Department for International Trade (DIT) publishes a new report highlighting the UK’s foreign investment successes over the past year.
In the last decade Foreign Direct Investment (FDI) has created more than 707,000 jobs across the country, and since April 2019 projects supported by DIT have contributed more than £7 billion to the economy.
Foreign investment in the UK created more than 55,000 jobs in the last financial year (20/21), with Scotland and regions like the South West and the East of England seeing the biggest job increases.
Nearly 9 in every 10 of the total new jobs (47,784 out of 55,319) were created with Government support, where DIT has worked directly with the investing companies and provided services to ease their entry into the UK.
International Trade Secretary Liz Truss said:
Jes Staley, Group CEO, Barclays, said:
The Office for Investment, established in January this year, has already facilitated a number of major inward investment commitments for the UK.
- Nissan’s recent announcement to build a Gigafactory as part of its £1 billion expansion in Sunderland
- Canadian clean energy company General Fusion’s commitment to build its nuclear fusion technology plant in Oxfordshire
- Mubadala Investment Company’s £1bn agreement to secure more investment into the UK’s technology, infrastructure and life sciences sectors.
The Global Investment Summit will build on the success of these investments and is expected to catalyse billions of pounds of investment by attracting hundreds of the world’s leading businesses and investment names to the UK.