UK economy 'hit by foreign investment slump'

A new report has revealed that foreign investments in the UK suffered last year as a result of the economic downturn.

The study, conducted by the UN Conference on Trade and Development (UNCATD), demonstrated that the UK was one of the worst affected countries in the world in this regard.

According to the figures published this week, overseas ventures in Britain fell by 50 per cent to £97 billion.

Meanwhile, those undertaken by the UK overseas, including offshore banking investments, plummeted to £111 billion, compared to £275 billion the previous year.

However, commenting on the results, trade minister Lord Davies maintained optimism.

’Despite the tough global conditions, the UK remains a strong and vibrant market and global businesses recognise this,’ he remarked, in a comment that could be welcomed by offshore banking businesses.

Meanwhile, the US had the highest number of investments, followed by France and China, with Britain coming in fourth and Russia fifth.

UNCATD monitors national and international policies for investment. It was established in 1964 to promote the integration of developing countries into the world economy.
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