More FDI in Britain, but fewer new jobs

More FDI in Britain, but fewer new jobs

The official figures released by the government on Tuesday suggested that Britain managed to attract more foreign direct investment (FDI) projects in 2022–23 compared to the previous year.

The Department for Business and Trade released data that revealed the total number of FDI projects increased from 1,589 to 1,654. The new projects managed to create 79,549 jobs, compared to 84,759 jobs in 2021–22.

The West Midlands saw an increase from 143 in the previous year to 181 new FDI projects in 22/23; however, there were fewer new projects in the rest of England.

Along with London, Birmingham, in the West Midlands, was the only region in England that anticipated growth in the number of new FDI projects. More projects were seen in Scotland, Wales, and Northern Ireland compared to a year ago.

- Published By Team Timeswire

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