§ Mr. EvennettTo ask the President of the Board of Trade if he will make a statement on the United Kingdom's performance in attracting internationally mobile investment projects in 1992–93.
§ Mr. SainsburyMy Department's Invest in Britain Bureau—IBB—announced in its annual report published today that 1992–93 was another successful year for inward investment—and jobs—coming to the United Kingdom.
Between 1 April 1992 and 31 March 1993, the IBB recorded 303 direct investment projects by foreign owned companies in the United Kingdom. Based on information supplied by the companies at the time of their announcements it is estimated that these projects will in due course create 16,718 jobs; in addition, a significant number of jobs were safeguarded.
602WThese results demonstrate how attractive this country continues to be to overseas investors. It is very pleasing that the United Kingdom remains the preferred location in the European Community for inward investors.
The results also provide evidence of the successful partnership the Invest in Britain Bureau has with many public and private sector organisations involved in the promotion of inward investment both at home and abroad.
I am arranging for a copy of the report to be placed in the House of Commons Library.