The British government has said that Indian investments, a major portion of foreign direct investment (FDI), in the UK witnessed a massive jump over the previous years recording a 321 per cent rise in 2017.
The latest figures from the Office for National Statistics (ONS) show stocks from across Asia have increased by more than 33 per cent in 2017 to £128 billion and stocks from Japan increased by 71 per cent to £78bn. The greatest growth from any country has come from Indian investors, rising 321 per cent to £8bn.
The figures show that investors have maintained confidence in the UK as an investment destination, with the value of the UK’s FDI stocks as a whole increasing by 12.6 per cent to £1,337bn in 2017 when compared with the previous year.
The UK’s world-leading financial services sector attracted more FDI than any other industry, accounting for 28.8 per cent of total inward investment, accumulating over £385 bn by the end of 2017.
The UK’s largest investor, the US, also showed a significant increase in FDI stocks, increasing by 19.5 per cent to £351bn.
International Trade Secretary and President of the Board of Trade, Dr Liam Fox MP, said,” As we prepare to leave the European Union, foreign investors from around the globe are as confident as ever investing in the UK. The significant rise in the amount of investment from Asia is evidence that the growing economies are important partners for the UK, relationships which I am committed to developing and deepening.”
The latest figures released on Tuesday (4)also show that the UK’s world-leading financial services sector attracted more FDI than any other industry, accounting for 28.8 per cent of total inward investment, accumulating over £385bn by the end of 2017.
Supported by the Department for International Trade’s network of overseas staff, popular restaurant chain Din Tai Fung is one Asian company that has looked to the UK for its investment potential, opening the doors to its first European restaurant in London this week.