Fox Invites Overseas Investors to Bid for £30bn Worth of Projects
International Trade Secretary Liam Fox is set to invite overseas investors on Thursday to submit bids for financing £30bn of projects.
The UK leaves the European Union next year and is aiming to become a more global Britain and improve economic ties with countries outside Europe.
Dr Fox will offer international investors the chance to fund 68 projects across 20 sectors of the economy, including technology, housing and retail, and many of the projects are outside London in less affluent parts of Britain.
.@LiamFox says today he launches a shop window for 68 investment projects across the UK in a drive to attract more than £30bn overseas investment, bringing prosperity to the whole of the UK #DITPQs #TradeQuestions pic.twitter.com/qBqhfRBfBU
— Department for International Trade (@tradegovuk) May 17, 2018
Speaking about this international push Dr Fox said that “this is a bold and ambitious programme, building on the UK’s position as the leading destination for foreign investment in Europe.”
It is expected that the Department of International Trade will promote these opportunities to international investors over the coming months and push relationships that will be invaluable to the UK as it leaves the EU.
The news has been welcomed by the Confederation of British Industry, with the Director General Carolyn Fairbairn saying that announcement will be a “vital tool for attracting even more capital to the UK.”
The Prime Minister Theresa May will use this as a fundamental shift in Conservative Government Policy, as she refocuses investment on necessary infrastructure and new types of technology. Such investment has been largely ignored by Governments since Margaret Thatcher left office in 1990.