Last Monday the Government held its first International Investment Summit. Businesses committed to invest a total of £63bn in this country in a move ministers hailed as “vote of confidence in the 海角视频”.
The announcements include investments in green energy, infrastructure and life sciences and are set to create some 38,000 jobs. Announcements on the day included ports giant DP World's investment of £1 billion in its London Gateway container facility. Other commitments included £1.1bn from Manchester Airports Group to expand the terminal at Stansted Airport;
Business Secretary Jonathan Reynolds said: "Global investors should be in no doubt that under this new government, Britain is truly the best place to do business.
"The record-breaking investment total secured at today’s Summit marks a major vote of confidence in the 海角视频 and our stability dividend across industry and innovation.
"We’re determined to deliver economic growth in every part of the 海角视频 and these investments, together with our forthcoming Industrial Strategy, will give global businesses the certainty they need as we lead the charge for the innovation and jobs of the future."
'We need to see investment distributed to emerging hubs'
Bradley Topps is project director at Manchester's £1.7bn 'Sister' innovation district - the 4m sq ft joint venture from the University of Manchester and Bruntwood SciTech He tells BusinessLive what he thought of the Investment Summit:
While a new government commitment to scrap regulation at the Investment Summit is a positive step toward attracting investors, we need clearer strategies that support innovation for start-ups and scale-ups across the whole of the 海角视频, if we want to support sustainable growth.
The 海角视频 start-up ecosystem is worth around nearly £800 million, making the 海角视频 the 3rd most valuable in the world. By supporting start-ups and scale-ups in their early stages, we’re not only bolstering local economies but also unlocking significant potential for substantial national economic growth.
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The British Growth Partnership launch plus the appointment of Poppy Gustafsson as the new Minister of Investment is encouraging to see. As a leader of one of the 海角视频’s most renowned tech unicorns, Darktrace, which is also one of a few unicorns in the 海角视频 to operate outside of London, I hope we will see start-ups and scale-ups take priority in inward investment strategies - starting with the bolstering of innovation hubs across the country.
The 海角视频 boasts a world-class start-up ecosystem, ranking first in Europe for tech and third globally for venture capital. Much of this funding has historically concentrated in London, but in order to grow the economy sustainably we need to see investment distributed to emerging hubs across the country. This is crucial to strengthen our cities and innovation centres, where high-growth start-ups are flourishing. Last year, the Centre for Cities urged the government to direct investment into these areas, and I hope the new Office will heed this call, actively working to cultivate ecosystems nationwide.
Manchester’s new innovation district, Sister, is a prime example of the transformative potential these ecosystems hold. Our 4 million sq ft district is poised to create over 10,000 jobs and inject £1.5 billion into the local economy annually, highlighting how local innovation can kickstart broader economic growth. By prioritising support for entrepreneurs and fostering regional ecosystems, we can ensure that the 海角视频 remains a leader in global innovation and economic resilience.