Official announcements from the UK government or reports from major financial news outlets.

UK Hosts International Investment Summit with Keir Starmer, Aiming for £50 Billion in Investment Deals from 300 Global Firms

Oct 14, 2024, 07:05 AM

The UK government is set to host its International Investment Summit in London, aimed at attracting significant foreign investment to bolster the economy. Prime Minister Keir Starmer will present a modern Industrial Strategy, the first in seven years, which is designed to provide long-term growth in key sectors such as life sciences and technology. The summit is expected to announce over £50 billion in investment deals, nearly double the £28 billion from the previous comparable event. The initiative comes amid concerns regarding P&O Ferries' potential shelving of a £1 billion port expansion, which has raised questions about the government's ability to secure investor confidence. Starmer emphasized the need for a stable and trusted business environment, stating that Britain is open for business. The event will be attended by around 300 global business leaders, including representatives from major banks and investment firms, as the government seeks to repair Britain's brand as a reliable investment destination following recent economic challenges.