New expert council formed to maximise UK investment offer

27 Apr 2021 12:20 PM

Investment Council will advise Government’s ambitious inward investment strategy.

Today (April 27) Minister for Investment Gerry Grimstone has announced the creation of an Investment Council to act as an advisory body to the UK Government on foreign investment, to improve and enhance the UK’s business environment for foreign investors. 

Made up of private sector senior leaders from around the globe in a variety of industries – from technology and energy to infrastructure and financial services – the Council will cement the investor lens in the Government’s inward investment strategy.

The Council, led by Minister Grimstone, will meet twice a year and on an ad hoc basis to provide high-level strategic advice to the Department for International Trade and wider government, operating alongside the recently formed Office for Investment. 

Members will share their experiences in the UK market and views on UK competitiveness, and advise on policy and regulatory changes that could improve the attractiveness of the UK for foreign investors. The aim of the council will be to drive investment into priority areas and sectors, levelling up the whole of the UK through an investment-led recovery. 

International Trade Secretary Liz Truss said: 

Alongside the Office for Investment, this Investment Council led by Minister Grimstone is a major leap towards ensuring foreign investors are heard and fostering a business environment that is fair and drives innovation and economic growth across the UK. 

Together with our recently established Trade and Investment Hubs, the Investment Council and the Office for Investment signal to our global partners that the UK is ready and open for business as an independent trading nation.  

Minister for Investment, Gerry Grimstone said: 

Investment sits at the heart of our economic recovery. It drives jobs, innovation, and helps to level up the whole of the UK. 

The Investment Council will deliver the expertise of influential global investors right to the heart of Government, offering invaluable private sector insight on how we can make the UK the best place to invest as we build back better, and stronger, from Covid-19. 

The Council will help to ensure that the UK remains one of the most attractive investment destinations in the world and that foreign investment continues to support jobs across the country, with FDI alone creating a total of 56,117 jobs in the last financial year. Outputs from the first meeting will be shared across Government to inform strategy.

The unpaid Council members have been selected in strict accordance with Cabinet Office guidance covering on direct ministerial appointments. The members include: 

Later this year, the UK will host a Global Investment Summit to secure foreign investment in UK green industries of the future. Hosted by the Prime Minister and supported by members of the Royal Family, the summit will galvanise foreign investment in the UK’s green tech and renewable energy industries ahead of the COP26 Climate Summit. 

Jojo de Noronha, President Kraft Heinz Northern Europe said: 

I am hugely supportive of the purpose behind the UK Investment Council. With three manufacturing sites in the UK, including Europe’s largest food factory based in Wigan, we continue to make multi-million-pound investments in state-of-the-art manufacturing to support our growth as well as our ESG commitments.  

I believe we can make a valued contribution to ensuring that investment in the UK drives growth and economic opportunity.”   

Marc Waters, Managing Director, UK, Ireland, Middle East and Africa of Hewlett Packard Enterprise, said: 

At this pivotal moment for the UK’s future in the global economy, the need for sustainable inward investment is more important than ever.  

It is positive to see Government increasing focus on ensuring the UK maintains its competitive advantages in the investment landscape. I look forward to working with this diverse group of business leaders to support Government efforts to bolster UK PLC.” 

 Anja-Isabel Dotzenrath, CEO, RWE Renewables GmbH, said: 

I am delighted to be joining the UK Investment Council. The UK is one of the key strategic markets in which RWE is committed to expanding its renewables portfolio. 

Through our investments we are dedicated to helping the UK Government achieve its target to quadruple offshore wind capacity to 40 gigawatts by 2030.  

The Council will help create the right framework for sustainable investment.” 

Annette King, CEO of Publicis Groupe UK, said:  

Maintaining the UK’s attractiveness to foreign investors is vital for productivity, innovation and of course jobs.  

As we emerge from the pandemic, we have a responsibility to build back better, and ensure we are creating the right conditions to attract a wide range of international investment.  

The Investment Council is a smart way to facilitate the right level of private sector input.

Brexit

Check what you need to do