Foreign investment drops as BRICS start to look elsewhere
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...of the local workforce (52%) followed by strength of business locally (35%) and access to regional grants and incentives (31%).
The car’s the star
While automotive assembly did not rank in the top ten for number of projects, it came second in job creation, while car components investment was sixth most important for employment, despite a small pool of projects. Overall the top three job-creators for FDI across Europe were automotive components, machinery and equipment, and automotive assembly.
“The automotive industry is the real success story with inward investment by companies in the sector being used to harness the UK’s potential to relaunch a sector the UK was once famous for," Mark Gregory, Ernst & Young Chief Economist, said.
"The UK has a significant installed base in all of Europe’s top employment three generating sectors, and could boost employment by building on this solid platform with new and follow-on investments.
“There are a broad number of positive reasons investors have to invest and a great number of strengths but there is clearly a need for the Government and the business community to work together to capitalise on the UK’s proven strengths and global brand.”
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