Overseas investment could help drinks trade recovery

30th March, 2020 by Owen Bellwood

Foreign direct investment (FDI) could help the UK food and drinks industry recover after the coronavirus pandemic, as new figures show overseas funding created 3,864 jobs in the sector between 2018 and 2019.

Overseas investment in the UK created 3,864 jobs in the UK food and drink sector

Cyber specialist Specops Software analysed figures released by gov.uk to uncover how many UK jobs were created by FDI between 2018 and 2019.

In total, 57,625 UK posts were created by FDI and 7% of these positions were within the food and drink industry.

Darren James, a spokesperson from Specops Software, said: “As the government continually introduces initiatives to help businesses to stay afloat and safeguard jobs in the short run, key decision makers should try and map out potential avenues they could use to stimulate sustainable growth for their business in the long run.

“One possible avenue could be securing foreign direct investment. Whilst the assumption maybe that foreign investors would be risk averse in this period, the UK remains an attractive proposition to them – largely due to having some of the best infrastructure and human resource when it comes to areas such as technology and logistics”.

Elsewhere, the report found that the greatest number of jobs funded by FDI was in the computer services industry, with 11,589 positions created.

FDI funded just 732 new jobs in the chemicals and agriculture sector.

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