Birmingham voted city with most potential to attract foreign investment
BIRMINGHAM has been named as the city with the most potential to attract foreign direct investment (FDI) by international industry experts.
The city won ‘FDI Destination of the Future’ ahead of locations including Colombia and the Czech Republic, which came second and third respectively.
Birmingham’s support for investors, the scale of investment in its infrastructure, talent pool and its ambitious economic development were key factors behind the decision.
Sir Albert Bore, Leader of Birmingham City Council, said: “Birmingham has worked hard to make itself one of the most attractive places in the world for enterprise. We now have a growing reputation for attracting and retaining investors from across the globe.
“Organisations from across the city are working closely together to ensure we offer the best possible support package and incentives to potential investors. Birmingham offers firms a highly skilled workforce, vibrant business community, and excellent access to the rest of the UK and Europe. Our message to foreign investors is simple: Birmingham is open for business, and we want yours.”
Birmingham was presented with ‘FDI Destination of the Future’ at the international FDI Association Awards, held at the 10th Anniversary World Forum for FDI. It was the only UK city to win an award, having been recognised by a panel of business location experts including senior executives from IBM, Jones Lang LaSalle and industry data analyst, fDi Intelligence.
The city also came second in the ‘Most Innovative FDI-attraction Incentive Programme of the Year’ category.
Factors instrumental in this was its economic development programme based around the six economic zones. These offer tailored space and services for companies in target sectors. Additionally, a pilot Mobile Investment Fund provides financial assistance for qualifying businesses that are creating jobs in the area.
A further Business Catalyst programme offers discounted or free support and accommodation through a number of private and public sector partners.
Roel Spee, Global Leader of PLI Global Location Strategies at IBM, said: “Birmingham is a highly ambitious destination that is dedicated to realising its full economic potential, and creating the best possible business environment for investors.
“Strong collaboration within the city is already generating significant investment in its people and infrastructure, and is significantly raising investors’ awareness of Birmingham. The city is already attracting more inward investment than ever, and I am confident that this success is set to continue.”
Business Birmingham, the inward investment agency operated by Marketing Birmingham, was also named as one of the top five investment promotion agencies in the world alongside similar successful bodies in Germany, Austria and Switzerland.