§ Dr. CableTo ask the Secretary of State for Trade and Industry what the United Kingdom's position is in the EU league table of stock of foreign direct investment; and if she will make a statement. [88880]
§ Nigel GriffithsLatest UNCTAD figures confirm the UK's ranking as Europe's top investment location in the stock of Foreign Direct Investment (FDI) with $496,776 million and that we are second only to the USA in the world. Latest Office for National Statistics (ONS) figures also show that FDI stock in the UK in the third quarter of 2002 was at a record level of £390.6 billion, an increase of £25.1 billion or 7 per cent. over the same quarter in 2001. These figures are a clear vote of confidence in the UK's business conditions.
The Government are determined to see the UK remain the top location in Europe for inward investment and will continue to pursue economic policies which will enhance the UK's attractions including lasting economic stability, open markets and a pro-business environment.