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Scotland remains ‘a magnet’ for investors

Posted on 06 Jul 2019 and read 1065 times
Scotland remains ‘a magnet’ for investorsAccording to the latest EY Scotland Attractiveness Survey, Scotland remains the leading UK location outside of London for global investment for the sixth time in the past seven years.

Paul Lewis, managing director Scottish Development International (the international arm of the Scottish government and Scotland’s enterprise agencies), said (www.sdi.co.uk): “This is a great achievement given the intense competition for inward investment.

“Coming on the back of three record years, the total number of projects secured last year remains higher than in any year prior to 2015, highlighting the country’s ability to successfully compete for investment in times of economic uncertainty.

“Global initiatives like ‘Scotland Is Now’ — designed to reinforce Scotland’s reputation as a place to live, work and invest — appear to be reaching their target audiences.

“It is likely they are also contributing to Scotland’s strong performance in attracting new first-time inward investors.

Likewise, the continued presence of Edinburgh, Glasgow and Aberdeen in the top 10 cities outside of London for foreign direct investment is heartening, as is the relatively positive performance of towns across much of the country.

“As the report notes, strong business networks across all regions are of growing importance to investors.

“Scotland’s efforts to capitalise on its strengths in the digital economy, alongside traditionally strong sectors such as financial services, are beginning to bear fruit.

“One of the main drivers of growth in this area is the recognition of Scotland as an international leader in data-driven innovation.

“For this, the government is channelling £300 million of investment via the Edinburgh City Deal.”

Mr Lewis concluded: “Now, perhaps more than ever, Scotland’s public, private and academic institutions must continue to build on the country’s reputation and international connections to attract even more inward investment and consolidate its position as a location of choice for global investors.”