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UK Premier Starmer to Host High-Stakes Investment Summit to Revitalize Economic Growth

AInvestSaturday, Oct 5, 2024 7:00 pm ET
1min read

The UK government is gearing up for its first International Investment Summit under the new administration, inviting senior executives from Google, Wayve, and Brookfield Asset Management. This summit, scheduled for October 14, aims to enhance foreign direct investment, a crucial step towards boosting economic growth under Prime Minister Keir Starmer's leadership.

Starmer emphasized the importance of developing stable and trustworthy collaborations with businesses, investors, and local leaders. He sees the summit as a pivotal moment to restore the UK's reputation as a premier global business destination.

Taking place in central London, the event will feature prominent figures such as Alphabet's President Ruth Porat, Wayve's CEO Alex Kendall, and Brookfield's CEO Bruce Flatt. Major financial institutions like Barclays, HSBC, and Lloyds Banking Group, alongside M&G Plc and Octopus Energy, have already committed as sponsors.

Since the onset of the pandemic, the UK has lagged in attracting foreign direct investment compared to its G7 counterparts. In response, the Labour government is striving to lure more capital, crucial for economic revitalization and funding public services.

The summit offers an opportunity for the government to forge enduring partnerships with businesses, providing investors with much-needed certainty and confidence to drive growth within the UK. Additionally, Starmer is set to convene the inaugural National and Regional Council meeting in Scotland, gathering leaders from across the UK to discuss investment strategies ahead of the summit.

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