Inward Investment 2021-01-14
2021-01-14
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Questions & Answers
Q1
Direct Answer
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Context
The question is prompted by the need to assess the level of inward investment in comparison between the UK and other European countries. This is significant for economic competitiveness and policy direction.
What comparative assessment she has made of the level of inward investment into (a) the UK and (b) other European countries?
According to the latest Office for National Statistics figures, the UK's inward foreign direct investment stock stood at £1.6 trillion at the end of 2019, maintaining its No. 1 status in Europe according to the United Nations Conference on Trade and Development.
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Q2
Direct Answer
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Context
The question is prompted by the need to ensure that inward investment supports economic growth and job retention in specific regions like Bassetlaw, an area focused on levelling-up efforts.
What steps is the Minister taking to ensure that inward investment supports the levelling up of areas such as Bassetlaw?
My Department operates a key account management programme to support existing investors in priority levelling-up areas. D2N2 LEP is receiving funding under this programme to identify foreign owned companies across the area, including Bassetlaw, which can be assisted with growth plans. Seven new officers have been placed overseas since March specifically tasked with promoting investment opportunities in the Midlands, including Bassetlaw.
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