Scotland enjoys foreign investors surge

This compared to 2015-16, when there were 108 foreign investment projects north of the border, bringing 4,178 jobs.

The Department for International Trade data also showed that the UK as a whole attracted 2,265 foreign direct investment projects which led to the creation of nearly 15,000 new jobs across the country.

London secured by far the biggest number of foreign investment projects: 891 and almost 20,000 jobs. The southeast was next with 217 projects and 5,400 jobs, while Scotland was third.

The news comes as The Scottish labour market has seen a sharp improvement in employment levels, with increases in permanent placements.

According June’s IHS Markit Report on Jobs for Scotland, demand for temporary and permanent staff remained at “historically high” levels.

On the pay front, the survey said salary pressures “remained steep”.

Data indicated IT and computing saw the largest rise in vacancies in June. Engineering and construction was also a topperforming sector.

Scottish recruitment consultancies also reported steep increases.

Commenting on the Department for International Trade inward investment figures, UK Government Minister Dr Ian Duncan, said: “Today’s figures show that Scotland and the whole of the UK is continuing to be an attractive destination for foreign investors who are recognising that our skills and world class industries are second to none.

“We want this trend to continue and see even more investment, and I would encourage businesses to work with the UK Government’s Department for International Trade who support businesses to reach markets around the world through their global network of embassy-based trade experts.”

The figures published today show that the US retains the top spot accounting for 577 projects of all inward investment projects to the UK. China (including Hong Kong) remains in second place with 160 projects and last year’s third place India is joined by Australia and New Zealand in joint third place with 127 projects each.

Sectors that performed particularly well include technology, renewable energy, life sciences and the creative industries which all saw an increase in the number of projects.

As part of the government’s drive to attract inward investment, in January this year the department launched a major global marketing campaign – ‘Invest in GREAT Britain and Northern Ireland’ – to promote the UK’s offering to international investors.

To date, the campaign has generated 1.4 million page views of the invest section of the great.gov.uk digital service and recorded over 540 prospective investor enquiries.

Keith Brown, Scotland’s economy secretary, said: “With 183 foreign direct investment projects, an increase of 69 per cent on the year before, Scotland remains the most successful place in the UK for inward investment projects outside of London and the southeast.”

UK International Trade Secretary, Liam Fox, added: “These results are great news for Scotland. As world leaders across a range of sectors including life sciences, oil and gas and financial services, it’s great to see foreign investors recognising the country’s excellence.

“As an international economic department, the Department for International Trade will continue to promote the UK as a whole to potential investors and support Scottish Development International to attract inward investment.”