London [UK] : Prime Minister Rishi Sunak has announced 29.5 billion pounds of new private-sector investments in various sectors in the UK at the Global Investment Summit at Hampton Court Palace in London according to a statement by the British government.
The world’s A-list CEOs and investors arrived to attend the Global Investment Summit on Monday, backing some of the fast-growing and innovative sectors in the UK. The investments have been secured for projects in tech, life sciences, infrastructure, housing and renewable energy.
More than 12,000 jobs have been created from just the new investments, the statement by Sunak’s 10 Downing Street read.
This follows the government’s new 4.5 billion pound Advanced Manufacturing Plan, a 2 billion pound investment from car manufacturer, Nissan will secure thousands of jobs in Sunderland (North-East England), and a new Investment Zone in the North East which will create 4,000 jobs.
Sunak on his X page, formerly Twitter shared, “This investment is a huge vote of confidence in our automotive industry. And it secures Sunderland’s future as the UK’s Silicon Valley for electric vehicle innovation and manufacturing. We’ll back businesses like @Nissan every step of the way”.
The summit will be opened by PM Sunak and Business and Trade Secretary Kemi Badenoch, with notable CEOs in attendance including Stephen Schwarzman from Blackstone, Amanda Blanc at Aviva, David Soloman from Goldman Sachs and Jamie Dimon at JP Morgan Chase.
Barclays, HSBC and Lloyds Bank will also attend as Principal Partners of the Summit, which will celebrate “British Ideas – Past, Present and Future”, from the steam train to quantum computing. It will be followed by a reception at Buckingham Palace hosted by His Majesty King Charles.
The UK Prime Minister said “Today’s investments, worth more than 29 billion pounds, will create thousands of new jobs and are a huge vote of confidence in the future of the UK economy. Global CEOs are right to back Britain – we are making this the best place in the world to invest and do business.”
Business and Trade Secretary Kemi Badenoch said, “The 29.5 billion [pound] pledged today is yet another huge vote of confidence in our dynamic, pro-business and highly innovative economy and proves that our plan for growth is working.”
He stated, “The numbers speak for themselves: we have the third highest levels of inward investment in the world at 2.7 trillion dollars, we’re number one in Europe for new investment projects, and last year alone we created 107,000 jobs through inward investment.”
Australia’s IFM Investors also intend to invest 10 billion pounds over the next four years for large-scale infrastructure and energy transition projects.
IFM will sign a memorandum of understanding (MoU) with the Department for Business and Trade at the Global Investment Summit to identify commercially viable opportunities in the UK. A potential project includes Nala Renewables, a UK-based portfolio company within IFM, which is actively seeking investment opportunities in the UK as the country looks to achieve a renewable capacity target of 4GW by 2025.
David Neal, CEO of IFM Investors said “Australia’s ‘super funds’ system can be a trusted long-term partner with the United Kingdom. We’re proud to sign this Memorandum of Understanding with the UK Government, which is a signal of the confidence IFM and Australian super funds have in the UK as a place to invest.”
“Our presence in the UK continues to grow and we look forward to working closely with the Government to drive investment into large-scale infrastructure and energy transition projects across equity and debt funding”, he said.
The press release gave consideration to quantum circuits, the new form of technology assures greater speed and efficiency in problem-solving capabilities challenging traditional conventional computing.
Ilana Wisby, CEO of Oxford Quantum Circuits, said, “To solve the world’s most pressing challenges – from climate change to accelerated drug discovery – we need to put quantum computers in the hands of humanity and at the fingertips of our most brilliant minds.”
“We’re proud to be pioneering enterprise-ready quantum with our customers, partners and investors”, Wisby said during the summit.
