Graham Stuart leads major infrastructure investment drive at Berlin conference
The Minister for Investment will today promote the vast range of infrastructure opportunities in the UK when he addresses one of the largest private investment summits in the world.
The Infrastructure Investor Global Summit in Berlin will include 1,400 delegates from more than 140 of the world’s biggest global institutions and private investment firms, who collectively manage more than £500 billion in capital.
During his speech, Minister Stuart will explain why the UK is the top investment destination in Europe, thanks to its open, liberal economy, flexible labour market, and business-friendly regulation.
Inward FDI stock now stands at a record £1,199 billion, and is estimated to have created or safeguarded 107,000 jobs in 2016/17.
The UK also has an excellent record of infrastructure delivery, with over 4,500 projects completed since 2010 and 98% of 158 priority projects either on track for delivery or completed.
A further 720 infrastructure projects – with a value over £500 billion - are due to start before 2020/21, and Minister Stuart will hold roundtables with leading figures in the German financial community to show how the UK will continue to offer huge investment potential in years to come.
Minister for Investment Graham Stuart said:
Since DIT’s foundation in July 2016, the British government now has a department of state solely focused on trade and investment and our network is dedicated to supporting businesses across the globe.
The UK is Europe’s top destination for foreign investment, and as an international economic department, we are determined that investment in infrastructure is a major part of the Industrial Strategy.
With more than £500 billion of infrastructure investment opportunities up to 2020/21, and an exemplary record of project completion, I will be telling the world’s most influential investors why the UK should be their first choice for investment.
One recent investment - of £1.4 billion as part of a consortium including Meridiam and Allianz Capital Partners – will help NeuConnect build the first direct power link between Germany and the UK.
The project will create new export and import routes for electricity for each market, benefitting UK and German consumers with reduced wholesale and consumer electricity prices.
Chief Executive Officer of NeuConnect Britain, David Inglis, said:
The first direct connection between the UK and German power grids offers great economic benefits for both countries and furthers the integration of renewables by enabling both countries to balance their future energy needs from a new market.
The long-term investors are very committed to jointly work with the national governments and regulators of both countries to successfully deliver this innovative and independent energy infrastructure project to German and British consumers.