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UK attracts 'record inward investment'

By Wesleyan

The UK has cemented its position as the number one destination for inward investment in Europe, data suggests.

EY's UK Attractiveness Report reveals the country recorded 887 foreign direct investment (FDI) projects in 2014, up 11 per cent on the previous year and the largest number secured for more than a decade.

This was achieved against a 10 per cent increase in the total number of projects across Europe, which attracted 4,341 investments.

While it secured a record number of FDI projects last year, the UK also increased its market share of all European projects to 20.4 per cent, its highest level on this front since 2009.

It all means the UK has pulled away from Germany, which ranks as the second most attractive destination for FDI in Europe.

Steve Varley, EY chairman and managing partner in the UK and Ireland, claims positive news about the economy, efforts by the Government to foster FDI, and the dynamic labour market are all likely to have played a part in the strong performance.

Copyright Press Association 2015

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