Int'l Investment Summit Secures POUND 63 Bln, Nearly 38,000 Jobs For UK

(MENAFN- Kuwait News Agency (KUNA)) LONDON, Oct 14 (KUNA) -- Nearly 38,000 UK jobs are set to be created across the UK after a total of POUND 63 billion of investment was announced around today's International Investment Summit, turbocharging growth and innovation across the country," British Department for Business and Trade said Sunday in a statement.
The record-breaking total figure more than doubles the POUND 29.5 billion committed at last year's Global Investment Summit and spans partnerships across the infrastructure and tech sectors, including over a billion pounds in new investments announced today by DP World, Associated British Ports (ABP) and Imperial College London.
Four major tech firms based in the US have today announced POUND 6.3 billion in UK data centers which is critical to enhancing the UK's AI capacity, in turn fueling Britain's economic growth and spurring on AI development.
At centers store the vast amount of information and data needed to power AI, and store the information generated by AI to keep the systems running.
DP World sealed 1.3 billion dollars deal with UK.
ABP, the UK's largest port operator, has committed over POUND 200 million to a joint investment with ferry company Stena Line in a new freight ferry terminal at the Port of Immingham, significantly boosting the capacity and resilience of UK trade with Europe.
It is expected to create around 700 jobs during construction and around 200 permanent jobs once operational.
Leading UK University Imperial College London is also today announcing a POUND 150 million investment to secure a new R&D campus to add to its rapidly expanding deep tech ecosystem in West London.
The new campus will expand scale-up capacity in the WestTech Corridor, supporting the UK's innovation sector and driving investment, economic growth and job creation.
Business and Trade Secretary Jonathan Reynolds said, "global investors should be in no doubt that under this new government Britain is truly the best place to do business.
The record-breaking investment total secured at today's Summit marks a major vote of confidence in the UK and our stability dividend across industry and innovation.
We're determined to deliver economic growth in every part of the UK and these investments, together with our forthcoming Industrial Strategy, will give global businesses the certainty they need as we lead the charge for the innovation and jobs of the future," Reynolds added.
Chancellor of the Exchequer Rachel Reeves said, "after the investments secured as part of this summit, my optimism for Britain burns brighter than ever."
"It's a sign of the confidence in the British economy, and it matters because it will support the growth of businesses big and small across the UK helping them create new jobs and making people better off," Reeves added. (Pickup previous)
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