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Scotland sees two-fold increase in foreign investment

Category: Scottish Investment — Mark on June 12, 2013

The results of an annual survey have revealed that foreign investment in Scotland is at its highest level for 15 years.

The Ernst and Young study showed that there are now 76 projects with foreign direct investment (FDI) in the country.

This is an increase of 49 per cent in the year. The figures are even more impressive when compared to the national rate, which saw FDI projects rise by just three per cent in the period of the survey.

It now means that Scotland accounts for nearly 11 per cent of the FDI market share for the UK.

However, the good news was tempered slightly by a drop in the number of jobs reported as being created by foreign investment. In the year, this fell by 18 per cent. It is reported that 4,867 people in the country are employed as a result of FDI.

It shows the need for home investment too, whilst many companies are still focusing on improving their own financial strategies. Many have been working with factoring companies in Scotland, for example.

The news was still welcomed by Holyrood though, whilst Scottish Development International said that as well as showing that the country was open for foreign business, efforts to gain further FDI were ongoing.

The chief executive of the group, Anne MacColl, said that along with existing offices, six new branches have been opened overseas. She said this will ensure the recent successes highlighted in the report will be built on.

The largest source of FDI in Scotland remains the U.S.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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