Marketing Birmingham takes on foreign investment role for LEP
MARKETING Birmingham has signed a Memorandum of Understanding with UK Trade & Investment to enable the organisation to become the main point of contact for inward investment on behalf of Greater Birmingham and Solihull.
Marketing Birmingham will deal exclusively with any foreign direct investment (FDI) enquiries from UKTI and lead activity for Greater Birmingham through its inward investment programme, Business Birmingham.
The organisation will work closely with Solihull Metropolitan Borough Council, which continues to manage inward investment activity for the Solihull area.
The agreement enables Marketing Birmingham and UKTI to work together on promoting the area by sharing their knowledge, project leads and relationship management with potential investors.
Neil Rami, chief executive at Marketing Birmingham, said: “By working closely with UKTI, Business Birmingham will be a central point of contact for international companies looking to invest and local business seeking expansion opportunities in the area – driving more investment and job creation.
“This coordinated approach will see Business Birmingham work jointly with UKTI to promote the area as a dynamic location with a talented and diverse workforce, world-leading research expertise and well connected transport network.”
Martin Phelan, director of investment at UKTI, added: “The Midlands remains a key driver of economic growth in the UK, with established expertise in industries such as manufacturing, low-carbon R&D and business services. Working closely with local programmes such as Business Birmingham will help to boost overall inward investment into the UK and support our drive toward increasing our share of investment from sectors with high-growth potential.”
As part of the MoU, Marketing Birmingham secured the endorsement of the Greater Birmingham and Solihull Local Enterprise Partnership to liaise directly with UKTI.
Steve Hollis, deputy chair of the LEP, said: “This is a significant step forward for the Greater Birmingham region. With competition so fierce to attract foreign direct investment, this new partnership with UKTI, managed by Business Birmingham, has the prospect of generating greater levels of new inward investment to the area.”
UKTI manages the delivery of support for prospective foreign direct investors by liaising with local partners across the UK.
The Midlands is considered to be the most attractive destination for inward investment outside of London, according to Ernst & Young’s most recent European Attractiveness Survey. In addition, Birmingham has attracted the most FDI – by value and the number of jobs created – of any city outside London in the last 12 months.
