FOREIGN INVESTMENT UP 7% ACROSS SCOTLAND

SCOTLAND SECOND MOST ATTRACTIVE PART OF UK FOR INVESTORS

 

Linda Fabiani MSP has welcomed new stats from business consultancy EY which has named Scotland as the second most attractive part of the UK for foreign direct investment (FDI) – after it rose 7% in the last year.

 

The 2017 survey is the third consecutive year in which Scotland has recorded a new high for investment from abroad – with 116 projects across Scotland identified by EY compared to 108 in 2016. The report has also made clear the threat of Brexit for the Scottish and UK economies – with Paris overtaking London as the most attractive destination to invest in Europe.

 

Commenting, Linda said:

 

“This latest survey shows the underlying strength and attractiveness of Scotland’s economy for foreign investors, so although we are in challenging economic times, we must continue to do all we can to ensure employers see East Kilbride as a great place to do business.

 

“Recent good news of course has been TUV investing over £11 million, and Scottish Enterprise supporting them with almost £5 million at their new site to a create a new test range; East Kilbride companies continue to win awards for their innovative work and I have been busy lately visiting companies that are confident about their future in the town. The East Kilbride Task Force, under the Chairmanship of EK’s own Craig Smith, continues to push the message that East Kilbride is an excellent location for enterprise and investment.

 

“Nationally, this is the third year in a row in which Scotland has recorded a new high for investment from abroad – up 7% over the year, boosting jobs and local economies across the country. Research and Development projects have also seen a 70% increase – with Scotland being the best performing part of the UK – helping secure our place as an attractive place for investors to do business.

 

“There is a real worry though with the risk that Brexit poses to our economy. The only way for us to protect and develop this progress is for the Tories to end their hard Brexit obsession and to keep the UK in the single market and customs union as a minimum to protect jobs and living standards across the country.”

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