UK Companies To Compete On Global Stage

Business Secretary Vince Cable, Foreign Secretary William Hague and Trade and Investment Minister Lord Green have launched a new cross-government focus on trade and investment to help the British economy grow.

The UK Trade & Investment (UKTI) Strategy and the Foreign and Commonwealth Office (FCO) seven-point Charter demonstrate the Government’s dedication to supporting international business, championing UK business overseas and attracting investors to the country.

They form a core plank of the Government’s Plan for Growth, and recognise the fact that a new focus on business is needed if the UK is to remain economically competitive in the years to come.

The strategy will see UKTI adopt a more entrepreneurial approach to deliver growth. As part of this UKTI will actively seek out overseas investors, help UK companies expand into overseas markets and work more closely with key British companies. Examples include; establishing a new private sector delivery partner with the incentive to attract and retain high value investments; and expanding the Global Entrepreneur Programme (GEP) to win more investment to the UK.

Business Secretary Vince Cable said: "We're rightly proud of British firms and making sure they can increase their exports to a worldwide audience is vital if we are to rebuild our economy. We also know the UK already has a great reputation as a place to do business and we want to do all we can to make sure foreign investors come here.

"We're announcing practical help for UK companies to ensure they win business overseas. And we're setting out how we will actively attract inward investment to the UK with ambitious plans to target sovereign wealth funds and expand the global entrepreneur programme."

The documents launched reinforce the Government’s desire to place the nation’s commercial interests at the heart of its foreign policy. Both were developed in consultation with industry leaders and signal that Britain is, and remains, 'pen for business'.

(BMcN/BMcC)