Britain Announces USD 1.7 Bln US Investments Ahead Of Trump's Visit

(MENAFN- Kuwait News Agency (KUNA)) LONDON, Sept 14 (KUNA) -- The British government announced on Sunday the registration of new US direct investments worth GBP 1.25 billion (around USD 1.7 billion).
The Department for Business and Trade confirmed in a statement that the investments are entirely linked to the financial services sector and come specifically from Citibank, Bank of America, PayPal, and Standard and Poor's.
It explained that these companies will distribute their investments across different regions of the United Kingdom, particularly in London, Manchester, Edinburgh, and Belfast, adding that they will create around 1,800 new jobs, thereby strengthening the economic partnership between Britain and the United States.
The statement noted that the announcement of these investments comes just days ahead of the expected visit of US President Donald Trump to Britain at the invitation of King Charles III, during which mutual projects and investment deals are scheduled to be revealed.
It stated in this regard that investment firm BlackRock will announce projects valued at GBP seven billion (USD 9.5 billion) on behalf of other companies, while it will itself invest GBP 500 million (USD 677 million) in data centers across Britain during the coming year.
The statement also pointed out that British banks and companies plan to inject GBP 12 billion (USD 16.2 billion) into US projects, considering the mutual investments as reflecting the scale and value of the strong economic relations between London and Washington.
Meanwhile, Business and Trade Secretary Peter Kyle was quoted as saying that the new US investments would enhance the United Kingdom's position as a leading global investment destination, especially in financial services, which represent the core of the government's modern industrial strategy.
Kyle considered these investments as proof of the strength of the "golden corridor" with one of Britain's closest trade partners ahead of the official visit of President Trump, adding that strengthening relations with the US would boost Britain's economy, create jobs, and secure its role in global finance. (end)
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