How the recently launched Office for Investment will help LATAC investors to reach the UK
By Spencer Mahony — Acting Her Majesty’s Trade Commissioner for Latin America and the Caribbean (LATAC)
We know the pandemic is affecting communities and businesses around the world. We must keep working together to not just recover but also to take this opportunity to build back better as a global community.
Building back better is not just a slogan — the UK has identified a range of areas where the government and the private sector will invest in coming years, such as clean growth, the future of mobility, artificial intelligence, and advanced technologies. A major source of investment for the UK´s building back plans will come from foreign investors and we will actively seek out these investments. This is where the New Office for Investment comes in.
Earlier this month, the UK Government announced the launch of the New Office for Investment led by the Minister for Investment (Lord Grimstone) and sponsored by the Prime Minister and the Chancellor.
To put this in simple terms: when high potential investors look at the UK, our government will be able to act quickly — investors’ cases and needs from the government will be put before key decision-makers who will be reporting to the PM and Chancellor on progress. The UK has an impressive track record of landing investment and providing clarity on government policy but this will make it even better. It’s great for our team and investors to know the Prime Minister and Chancellor are so personally committed — it’s no surprise as they both have a record of backing business. This is a simple step that will give our work extra firepower.
So what does this mean for LATAC investors? This Office will support the landing of high impact and high-value investment opportunities aligned with the UK´s priorities, such as offshore wind, advanced manufacturing, electric vehicles, and major infrastructure projects. These are some big-ticket items but the opportunities for investors in the UK are much wider-ranging from creative industries and food and drink to chemicals and financial services, with many interesting opportunities for Capital Investment too.
The UK is already the top destination for inward investment in Europe, and, in 2019, experienced the largest growth in venture capital of any country in the world. This Office will focus on giving new emphasis and structure to our offer for investors around the world. We think foreign investors deserve special focus as engines of growth. We value new sources of capital and businesses that will help us foster greater productivity and innovation, further international trade, and boost growth.
As the Minister for Investment, Gerry Grimstone, said:
“The UK is an open, international business destination, powered by global connections, that offers investors the opportunity for accelerated growth”.
So if you are an investor thinking about where to expand to, where to invest for a stable and secure rate of return, or where you can grow your business through harnessing some of the world’s best R&D, skills, and services, talk to our team. We will help you think through how the UK can help you achieve your goals, support introductions to people who can help progress your decision-making, be experts in their sector, recruitment, visas, logistics, finance, or tax. Our role is to make growing a business in the UK as easy as possible and that includes helping you understand the competitiveness of the UK versus other countries. If you have something bold in mind and need swift government advice and support, rest assured we can provide that clarity and help you get your investment moving.
Currently, about 250 companies from LATAC, including some of the region’s impressive unicorns, are already investing in the UK in a range of industries. These companies have invested more than £3 billion into the UK in the last 5 years, creating more than 4,000 jobs. Many are now expanding from the UK to new markets in Asia, Africa, and North America with UK government support. It’s a growing group that we would love you to be part of.
By creating this new Office, we hope to make it easier for companies of all sizes from the region to reach the UK and the world, bringing the very best of what the UK has to offer directly to them.
We have DIT across the LATAC region with customized support in Spanish, Portuguese, and English.
Contact our team to find out how we can help you grow your business in the UK!