The newly launched Office for Investment will connect public and private sector expertise while ensuring high and rigorous standards of scrutiny and security.
Today Prime Minister Boris Johnson announced a major addition to the UK Government’s ability to attract foreign investment, in the form of a newly established Office for Investment.
The new Office will support the landing of high value investment opportunities into the UK which align with key government priorities, such as reaching net zero, investment in infrastructure and advancing research and development.
Its creation comes in response to the Government’s extensive engagement with investors, who have indicated that as global competition intensifies, a more structured approach will better support existing investors and land high-value, high-impact investment. In turn, this will help maximise the positive role investment plays in the UK economy.
Staffed by highly experienced individuals with both private sector and cross-government experience, the Office will be based in the Department for International Trade (DIT), with Minister for Investment Gerry Grimstone leading its work in close partnership with No10, under sponsorship of the Prime Minister and Chancellor of the Exchequer.
The most strategic investments are often the most complex and require a joined-up approach across Government and the private sector. The Office for Investment will look to resolve potential barriers to landing these ‘top tier’ investments, including regulatory constraints and planning issues.
Driving inward investment into all corners of the UK through a ‘single front door’ and boosting economic recovery across the country, this major operational transformation is designed to ensure the UK is the most attractive destination in the world to invest.
It will also ensure the UK is well positioned to maximise the benefits that flow from free trade agreements with international partners, like that recently signed with Japan, one of the UK’s largest foreign investors.
International Trade Secretary, Liz Truss said:
Minister for Investment, Gerry Grimstone said:
The announcement follows the second round of the High Potential Opportunities programme, and the cohort of Investment Champions for the Northern Powerhouse revealed last month. Both measures have been designed to help level up the UK and identify key investable opportunities in all corners of the UK.
Picture by Pippa Fowles / No 10 Downing Street.