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Written Question
Technology: Foreign Investment in UK
Thursday 11th July 2019

Asked by: Gillian Keegan (Conservative - Chichester)

Question to the Department for International Trade:

To ask the Secretary of State for International Trade, what recent assessment he has made of trends in the level of foreign direct investment in the UK tech sector.

Answered by Graham Stuart

The latest Tech Nation report showed the UK attracts more VC tech investment than any other European nation, with £6.3 billion raised in 2018. The UK is both a leading global financial hub and an Artificial Intelligence (AI) hub, home to more AI start-ups than any other European country with over 1000 companies and 600 investors.

Last month during London Tech Week, my department announced a further £1.2 billion of new foreign direct investment in the UK tech sector which will create more than 850 jobs.