HC Deb 11 July 2001 vol 371 cc558-9W
Mr. Joyce

To ask the Secretary of State for Trade and Industry if she will make a statement on levels of inward investment into the UK. [3667]

Ms Hewitt

With my right hon. Friend the Secretary of State for Foreign and Commonwealth Affairs, I am pleased to inform the House that Invest UK announced in its annual review, published today, that the UK has delivered another year of outstanding inward investment performance.

For the period between 1 April 2000 and 31 March 2001, the number of direct investment projects by foreign owned companies into the UK reported to Invest UK by its partner agencies in Scotland, Wales, Northern Ireland and the English regional development agencies totalled 869. Based on information provided by the companies at the time of the announcement, it is estimated that these projects will create 71,488 new jobs.

This performance is proof of global confidence in the UK's economic and business environment. More overseas companies choose to invest here than anywhere else in Europe because the UK is the best place to do business.

I am arranging for a copy of Invest UK's Annual Review to be placed in the Library of the House.