§ Mr. HammondTo ask the Secretary of State for Trade and Industry what recent representations she has received regarding her Department's work to encourage inward investment to the UK. [30163]
§ Nigel GriffithsGovernment Ministers take every opportunity to promote the UK as the place to do business.
Invest UK, as part of its overall promotional effort to attract inward investment to the UK, is in continuous dialogue, with the involvement of Ministers, with both prospective and existing investors to help them in all aspects of locating and doing business here. My noble Friend the Minister for Trade and Investment holds regular breakfast meetings with existing inward investors to discuss specific concerns that they may have.
Ministers are also regularly involved in inward investment events overseas. During a recent visit to Japan, my right hon. Friend the Secretary of State for Trade and Industry hosted a dinner for investors and also met members of the automotive manufacturers and components suppliers in support of their efforts in retaining and making further investment in the UK. In January this year on a two-day visit to Toronto, my noble Friend the Minister for Trade and Investment called on existing major investors and multipliers and held media interviews to promote inward investment. On a visit this month, I shall be hosting an inward investment dinner during my attendance at the largest ICT (information and communications technologies) conference taking place in India this year.
These actions have contributed to the UK retaining its position as the top destination for inward investment in Europe as confirmed by the recently published UNCTAD (United Nations Conference on Trade and Development) figures on foreign investment flows.