Britain tops FDI destination ranking in Europe
Posted on Jun 10 2014 | IANS
London, June 10 : Britain was the most attractive destination in Europe for foreign direct investment (FDI) in 2013, a survey result published Monday showed.
In 2013, the number of FDI projects in Britain increased by 14.6 percent to 799, surpassing the previous high of 728 recorded in 2010 and Britain's market share rose to one-fifth of all European projects, close to its record high over the last decade, according to the survey by global advisory company EY, Xinhua reported.
The country was the most attractive European location for global investors, up from eighth place to fifth in the worldwide ranking of countries that investors see as attractive for FDI over the next three years. Britain overtook Germany for the first time, with only China, the US, India and Brazil now ahead of it.
"As the UK economy continues to recover from the recent downturn, these figures signal rising global confidence both in the long-term outlook for the UK and the country's positive environment for business," said Lord Livingston, minister of state for trade and investment.
Britain attracted 52 R and D projects in 2013, which was 20 percent more projects than Germany, giving it a market share of 18 percent. Software investments in Britain surged by 55 percent in 2013 and the country secured 19 percent of all headquarters projects in Europe, more than any other country, the report showed.
"The key to our success is government and business working hand in hand to help Britain prosper. We will focus even more on investment from export-orientated companies and fast-growing economies, while promoting the attractiveness of all regions of the UK," said Lord Livingston.