Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, which Department is responsible for foreign direct investment into research and development in the UK.

The Department for Business and Trade (DBT) is responsible for the promotion and facilitation for foreign direct investment (FDI). DSIT works closely with DBT to promote global collaboration and investment opportunities in R&D.

FDI is a key source of R&D funding, accounting for 14% of UK R&D investment. Our collaborative approach resulted in the successful 2023 Global Investment Summit, securing over £29 billion, including investments in AI, life sciences and quantum.