UK Trade & Investment announces new arrangements to support foreign investors

UK Trade & Investment yesterday signed a contract that will deliver new national inward investment arrangements.

The three year contract, which is worth £13.15 million for 2011/12 has been awarded to PA Consulting Group, in partnership with the British Chambers of Commerce and OCO Consulting.

The new arrangements will take over the delivery of inward investment support from the Regional Development Agencies in England.

Acting Chief Executive of UK Trade & Investment Susan Haird said: “Attracting and retaining foreign direct investment is vital to the UK. Last year UK Trade and Investment helped to attract 759 new investment projects that generated nearly 48,000 jobs.

“The new framework will be a vital part of improving the experience for companies wishing to invest in the UK. It will harness valuable private sector skills whilst at the same time further strengthening the important link with local communities and business. The British Chambers of Commerce will be an important part of that.”

The new contract will cover all of England, excluding London, which has its own inward investment arrangements, responsible to the Mayor. The new arrangements are expected to be in place by 1 May 2011.