The UK’s 2024 International Investment Summit marked a historic achievement, with £63 billion in private investment committed to various sectors, significantly surpassing the £29.5 billion secured at 2023’s Global Investment Summit. The investments, spanning infrastructure, technology, renewables, and life sciences, are expected to create nearly 38,000 jobs across the country, driving economic growth and boosting innovation.
Among the new investments announced were £6.3 billion for UK data centres, essential for enhancing AI capacity, and over £200 million for the development of a new freight ferry terminal at the Port of Immingham, led by DP World and Associated British Ports (ABP). The latter is expected to create around 700 construction jobs and 200 permanent positions once operational, reinforcing UK trade resilience with Europe.
Business and Trade Secretary Jonathan Reynolds hailed the summit as a "major vote of confidence" in the UK’s stability, stating that global investors can be assured Britain is the best place to do business. He also highlighted the government's commitment to delivering economic growth across the country through investments like these, which will drive the innovation and jobs of the future.
Chancellor of the Exchequer Rachel Reeves shared her optimism for Britain's economy following these investment announcements, emphasizing the positive impact on businesses and job creation. She remarked, "After the investments secured as part of this summit, my optimism for Britain burns brighter than ever."
Among the high-profile projects, four major US-based tech firms announced a combined £6.3 billion investment in UK data centres, which will fuel the country’s AI capabilities and economic growth. Data centres are crucial for storing the massive amounts of information generated and used by AI systems, ensuring they remain operational.
In addition, Imperial College London revealed plans to invest £150 million in a new research and development (R&D) campus in West London. This facility will expand the UK’s deep tech ecosystem, adding to the "WestTech Corridor" and creating new scale-up opportunities that will support further innovation and job creation in the tech sector.
ABP's CEO Henrik L. Pedersen expressed excitement over the approval of the Immingham Eastern Ro-Ro Terminal, noting the significant economic benefits it will bring, including hundreds of jobs and enhanced trade connectivity. He emphasized that this investment is part of a £5.5 billion pipeline of projects ABP has planned for the next decade.
The International Investment Summit’s success reflects the UK's strengthened position as a global investment hub, with additional investments announced in renewable energy, infrastructure, and advanced technologies. These projects, from offshore wind farms to carbon capture and life sciences, illustrate the breadth of international confidence in the UK’s future, aligning with the government’s drive towards net zero and economic expansion.
With major firms like Blackstone, Amazon Web Services, and Orsted also committing billions of pounds to UK-based projects, the Summit signals a robust outlook for the nation's role in global markets and its ability to attract and retain high-impact investments.
