MIDAS signs UKTI agreement

MIDAS, Greater Manchester’s inward investment agency, has signed a formal agreement to work with national body UK Trade and Investment.

The Memorandum of Understanding, which is linked to a new national inward investment contract, is the first of its kind between a local body and UKTI. No money will change hands but both organisations will support the other.

The MoU recognises MIDAS as the sole point of contact for Foreign Direct Investment (FDI) in the city region and sets out a delivery arrangement aimed at securing maximum levels of FDI into the area.

UKTI will operate a ‘UK First’ model, which directs projects into the UK in favour of targeting other countries.

MIDAS will work alongside UKTI to identify those projects – such as business contact centres – for which Greater Manchester presents a natural home.
This approach aims to strengthen and support the region’s inward investment objectives.

The agreement also gives MIDAS access to UKTI’s network of contacts at embassies around the world. 

MIDAS chief executive Angie Robinson said the agreement was the result of months of detailed negotiations with UKTI officials.

“We are clear that the agreement now in place adds value to the already successful service provided by MIDAS. It ensures that there is no duplication of effort or resource and most importantly, offers a single point of contact for the businesses with whom we work.”

The MoU follows the appointment earlier this year of PA Consulting as the national contractor for the inward investment in the UK.