Foreign Investment in UK
The question
To ask the Secretary of State for Business and Trade, whether his Department is taking steps to monitor the timeline of the implementation of private sector investment projects arising from the UK–Japan business summit.
Answered by Sarah Jones
Japan is an important economic partner, with more than 1,200 Japanese owned companies in the UK, supporting over 150,000 jobs across the UK
On 7 March, Foreign Secretary David Lammy and Business and Trade Secretary Jonathan Reynolds visited Tokyo for the inaugural UK-Japan Economic 2+2 Dialogue. The two Secretaries of State were accompanied by a UK business delegation and met representatives of Japanese business and industry
On 9 July, Minister for Investment Poppy Gustafsson travelled to Tokyo and met with Japanese businesses to support further Japanese investment into the UK. During the visit, Sumitomo Corporation announced its aim to facilitate £7.5 billion of investment into key UK infrastructure and clean energy projects by 2035. Department for Business and Trade officials are monitoring the implementation of these projects closely.
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