UK secures $13 billion of investment as it seeks to overcome post-Brexit slump

British Prime Minister Boris Johnson speaks during a press conference in Downing Street on September 7, 2021 in London, England.

Toby Melville – WPA Pool | Getty Images News | Getty Images

LONDON – The British government is set to announce it has secured 9.7 billion pounds ($13.4 billion) in new foreign investment, as Prime Minister Boris Johnson looks to reverse a free fall in funding after Brexit.

The government will host the first global investment summit on Tuesday in a bid to persuade the world’s largest international investors to pour money into the UK

Prime Minister Boris Johnson hopes to bolster support for his government’s “Global Britain” agenda in the wake of Brexit, with foreign direct investment in the UK slumping since the country voted to leave the European Union in 2016.

The summit comes at a difficult time for the UK, which is facing a slew of economic crises, including labor shortages, record-high natural gas prices and supply chain constraints.

A large portion of the event’s guest list comes from the United States, including Bill Gates, Goldman Sachs CEO David Solomon, JPMorgan President Jamie Dimon, and Blackstone CEO Stephen Schwarzman.

According to Downing Street, the 18 deals already secured will create at least 30,000 jobs and stimulate financing for key sectors such as hydrogen energy, sustainable housing and carbon capture and storage.

“This is just the beginning. We will see new green growth partnerships forged at the Global Investment Summit today, as we look forward to COP26 and beyond,” Johnson said in a statement.

The UK’s Department for International Trade has also launched a new online platform for international investors to identify opportunities in England, Scotland, Wales and Northern Ireland.

The Investment Atlas will provide 53 strategic investment opportunities, including offshore wind infrastructure in Scotland and manufacturing ports in North East England.

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