UK secures $13 billion of investment as it seeks to overcome post-Brexit slump

Britain’s Prime Minister Boris Johnson speaks during a news conference in Downing Street on September 7, 2021 in London, England.

Toby Melville – WPA Pool | Getty Images News | Getty Images

LONDON — The British government is set to announce that it has secured £9.7 billion ($13.4 billion) of new foreign investment, as Prime Minister Boris Johnson looks to reverse the post-Brexit freefall in financing.

The government is hosting its first ever Global Investment Summit on Tuesday in a bid to convince the world’s largest international investors to pump money into the U.K.

Prime Minister Boris Johnson will be hoping to bolster support for his government’s “Global Britain” agenda in the wake of Brexit, with foreign direct investment into the U.K. having nosedived since the country voted to leave the EU in 2016.

The summit comes at a tricky time for the U.K. which is facing a slew of economic crises, including labor shortages, record-high natural gas prices and supply chain constraints.

A substantial portion of the event’s guest list hails from the U.S., including Bill Gates, Goldman Sachs CEO David Solomon, JPMorgan boss Jamie Dimon and Blackstone CEO Stephen Schwarzman.

According to Downing Street, the 18 deals already secured will lead to the creation of least 30,000 jobs and drive funding for key sectors such as hydrogen energy, sustainable housing and carbon capture and storage.

“This is just the start. We will see new partnerships for green growth forged at today’s Global Investment Summit, as we look ahead to COP26 and beyond,” Johnson said in a statement.

The U.K.’s Department for International Trade has also launched a new online platform for international investors to identify opportunities in England, Scotland, Wales and Northern Ireland.

The “Investment Atlas” will offer 53 strategic investment opportunities, including offshore wind substructures in Scotland and manufacturing ports in the northeast of England.

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