PRESS RELEASE : UK announces second Global Investment Summit to create jobs in high tech sectors [February 2023]

• PM announces UK’s second Global Investment Summit to take place in October.
• Summit will bring 200+ CEOs of multinational companies and investment corporations to showcase the UK as a world-leading investment destination.
• Latest figures show UK Foreign Direct Investment (FDI) stock reached £2 trillion in 2021, creating tens of thousands of high-value jobs across the UK.

Over 200 of the world’s highest profile investors, CEOs and financiers are expected to come to the UK in October for a second Global Investment Summit (GIS 23) – the Government announces today (Friday 10 February).

GIS 23 will aim to raise billions of pounds of high value investment to create thousands of jobs across the UK, with a special focus on high tech sectors such as innovation, research and development.

The event will build on the success of the inaugural Global Investment Summit in October 2021, that brought together over 170 CEOs to showcase the UK’s commitment to green investment ahead of COP26.

The 2021 Summit secured £9.7 billion of new foreign investment on the day, creating over 30,000 new jobs and supporting growth in vital sectors such as wind and hydrogen energy, sustainable homes, and carbon capture and storage.

Leading the Summit is the newly formed Department for Business and Trade, created by the Prime Minister to support UK businesses to invest, grow and export around the world and to create jobs and prosperity across the UK.

The Prime Minister will confirm the UK is hosting a second Summit during a meeting of the Investment Council on Friday, where he will address global investors to set out his priorities for creating jobs and growing the economy.

Prime Minister Rishi Sunak said:

“This week we drove serious change from the heart of government by creating four new departments. This was done to deliver on the promises and priorities of the British people, and to go further and faster on our ambition to drive jobs and growth in every part of the UK and ensure we are at the cutting edge of technology and innovation.

“The next Global Investment Summit is an opportunity to demonstrate what we can do as a nation, delivering on our ambition to be the a world-leading destination for international finance and investment.”

Business and Trade Secretary Kemi Badenoch said:

“Investment creates high quality jobs and grows our economy.

“I started the year setting a goal of the UK becoming the undisputed number one investment destination in Europe. Events like this will help deliver this and show the world’s biggest investors just what a strong investment prospect the UK can offer.

“Overseas investment has already led to 85,000 new jobs in 2021/22 alone, and I want to us to go further, driving growth and putting more money in the pockets of hardworking Brits.

This year’s event will showcase emerging UK success stories in life sciences, deep tech, nuclear fusion and small modular reactions (SMRs), and manufacturing, with capital investment driven by the post-EU Exit financial liberalisation encapsulated in the Edinburgh reforms.

Minister for Investment Dominic Johnson said:

“The UK remains open for business. I greatly look forward to welcoming investors at the Global Investment Summit and showcasing how the UK has reached over £2 trillion in inward investment stock.

“Our low-tax, high-skill economy is unrivalled in offering strong returns, innovative businesses and a rule of law that is emulated around the world.”

Notes to editors:

• The UK Investment Council was established and formed under the chairmanship of the Minister for Investment in April 2021 to provide a platform for 42 influential global investors so that they can highlight their perspectives, priorities and concerns relating to UK inward investment and use it as an opportunity to influence Government’s future approach to investment policy.
• Their high-level expertise and advice help to guide the discussion happening around the table and to inform DIT and wider Government to ensure the UK’s remains one of the leading destinations for foreign investment. The Council also provides an opportunity for HMG to amplify its investment objectives to senior industry leaders.
• The Council, though separate, operates in collaboration with the Office for Investment and has proven highly effective in gathering investor insights and improving the quality of Departmental stakeholder engagement.