London: Prime Minister Rishi Sunak £29.5 billion ($37.2 billion) of private funding for new UK projects was announced on Monday, as more than 200 CEOs descended on London for the 2023 Global Investment Summit.
The UK government said the new investment would create 12,000 jobs across our most innovative sectors, including technology, life sciences, renewable energy, housing and infrastructure.
“Today’s investment … is a huge vote of confidence in the future of the UK economy,” Sunak said in a statement ahead of the opening of the event at Hampton Court Palace, just outside London.
“Attracting global investment to drive the economy is central to my plan,” he said.
The investment announced on Monday includes £10 billion over the next four years from Australian fund IFM Investors “for large-scale infrastructure and energy transition projects”.
Spanish energy company Iberdrola announced £7 billion of funding for offshore wind infrastructure, while US tech giant Microsoft plans to invest £2.5 billion in artificial intelligence (AI) infrastructure, including data centres.
Germany’s BioNTech Laboratories will invest approximately £1 billion over 10 years, expanding its research and development activities with a new laboratory in Cambridge, eastern England, as well as a center of expertise for Artificial Intelligence in London.
The announcements came as Japanese car giant Nissan said on Friday it would invest up to £2 billion to build two new electric car models in the UK, as well as an additional gigafactory to make batteries.
Finance Minister Jeremy Hunt set out £4.5 billion of support for strategic industrial sectors including automotive, aerospace, green energy and life sciences in last week’s budget announcement.
This is the second edition of the summit, which was first held in 2021.
Sunak and Trade and Commerce Secretary Kemi Badenoch kicked off the event, which was attended by CEOs including Stephen Schwarzman from Blackstone, Amanda Blank from Aviva, David Solomon from Goldman Sachs and Jamie Dimon from JPMorgan Chase.
The UK government said the new investment would create 12,000 jobs across our most innovative sectors, including technology, life sciences, renewable energy, housing and infrastructure.
“Today’s investment … is a huge vote of confidence in the future of the UK economy,” Sunak said in a statement ahead of the opening of the event at Hampton Court Palace, just outside London.
“Attracting global investment to drive the economy is central to my plan,” he said.
The investment announced on Monday includes £10 billion over the next four years from Australian fund IFM Investors “for large-scale infrastructure and energy transition projects”.
Spanish energy company Iberdrola announced £7 billion of funding for offshore wind infrastructure, while US tech giant Microsoft plans to invest £2.5 billion in artificial intelligence (AI) infrastructure, including data centres.
Germany’s BioNTech Laboratories will invest approximately £1 billion over 10 years, expanding its research and development activities with a new laboratory in Cambridge, eastern England, as well as a center of expertise for Artificial Intelligence in London.
The announcements came as Japanese car giant Nissan said on Friday it would invest up to £2 billion to build two new electric car models in the UK, as well as an additional gigafactory to make batteries.
Finance Minister Jeremy Hunt set out £4.5 billion of support for strategic industrial sectors including automotive, aerospace, green energy and life sciences in last week’s budget announcement.
This is the second edition of the summit, which was first held in 2021.
Sunak and Trade and Commerce Secretary Kemi Badenoch kicked off the event, which was attended by CEOs including Stephen Schwarzman from Blackstone, Amanda Blank from Aviva, David Solomon from Goldman Sachs and Jamie Dimon from JPMorgan Chase.