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Scotland “in a strong position to attract inward investment".

Scotland remains the most successful part of the UK outside of London for attracting inward investment, Finance Secretary Derek Mackay told an audience of foreign direct investors in London today.

At the Financial Times’ fDi Forum 2016, Mr Mackay highlighted how despite the uncertainty caused by the EU referendum, Scotland remains open for business and an attractive place for international companies to invest.

• The EY Attractiveness Survey (May 2016) shows that in 2015, Scotland attracted 119 Foreign Direct Investment projects – a 51 per cent increase on the previous year and more than any other part of the UK outside of London
• Those projects helped to create over 5,300 jobs in Scotland last year – a 52 per cent increase on 2014
• Scotland won 11.2 per cent of all FDI projects into the UK, with Edinburgh, Glasgow and Aberdeen all in the UK top ten.

In London, Mr Mackay also met Baroness Vadera, Chairwoman of Santander UK and Chair of the European Financial Services Chairman’s Committee and Xavier Rolet, CEO of the London Stock Exchange Group.

Mr Mackay said:

“We’ll continue to ensure that Scotland’s business environment is a stable and attractive one for investment. There is much to be positive about in our economic data, but maintaining our place in the world’s biggest single market is absolutely vital when it comes to protecting jobs, attracting investment and securing our long term prosperity.

“The reality is that post-Referendum uncertainty represents an immediate challenge to the economy and many businesses across Scotland and the UK. Scotland remains a highly competitive business location; with investment built around the skills of our workforce, the quality of our research and innovation and our connected cities and business environment.

“We have large and growing clusters of expertise in key economic sectors of the future – including creative industries, life sciences, informatics, and food and drink. Our people, infrastructure, expertise, quality of life and supportive business environment put Scotland in a strong position to attract inward investment.

“The vote to leave the EU has created an initial reaction of uncertainty as markets, firms and individuals digest the potential implications for the UK economy. The immediate uncertainty is impacting economic sentiment and business confidence. This confidence is vital for Scotland’s businesses and investors.

“However, amidst this economic uncertainty, the Scottish Government has a strong vision for our long-term future.”

Notes To Editors

Details of the event can be found here: https://live.ft.com/Events/2016/fDi-Forum-2016