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World’s leading investors commit $38B in new UK projects, says premier

27 November 2023 21:10 (UTC+04:00)
World’s leading investors commit $38B in new UK projects, says premier

The UK's prime minister announced Monday that leading investors around the world committed £30 billion (nearly $38 billion) of new investments in project funding and capital to boost employment in innovative sectors, Azernews reports, citing Anadolu Agency.

These sectors include technology, life sciences, renewables, housing, and infrastructure, said Rishi Sunak in his remarks as global investors gathered at the Global Investment Summit in London, with more than 200 top CEOs joining the event.

"Attracting global investment is at the heart of my plan for growing the economy. With new funding pouring into key industries like clean energy, life sciences and advanced technology, inward investment is creating high-quality new jobs and driving growth right across the country," Sunak said in his statement, adding:

"Global CEOs are right to back Britain. We are making this the best place in the world to invest and do business."

"From giving businesses the biggest tax cut in recent history last week, to our culture of innovation and thriving universities producing some of the finest minds in the world, ours is truly a nation of opportunity," he said.

Australia's largest pension fund, Aware Super, led by CEO Deanne Stewart, is expected to open its first overseas office in London to make infrastructure, real estate, and private equity investments exceeding £5 billion.

The summit is expected to inject billions into the UK's rapidly growing technology sector.

According to the UK government, the country is already drawing the highest levels of investment in Europe and achieved a global valuation of $1 trillion last year, securing the third position worldwide.

Microsoft has committed £2.5 billion to develop essential artificial intelligence (AI) infrastructure at an AI safety summit this month

This initiative involves the establishment of additional next-generation AI data centers and the deployment of thousands of graphic processing units across the UK.

Such investments aim to reinforce the UK's status as a leading country in AI, with companies in the sector generating over £10 billion in revenue last year.


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