UK’s Cameron hails record 1-trillion-pound foreign direct investment

The total value of foreign direct investment into Britain has topped 1 trillion pounds ($1.56 trillion) for the first time, Prime Minister David Cameronand’s government said on Wednesday, hailing andquota sharp increaseandquot in net flows last year.
The data is likely to be seized upon by Cameronand’s Conservatives who reject assertions from opponents that his plan to reform Britainand’s ties with the European Union ahead of an in-out membership referendum risks hurting foreign investment.
The government said the value of accumulated foreign direct investment rose by 90 billion pounds in 2014 to take the total to more than 1 trillion pounds, the highest in Europe and third highest in the world after the United States and China.
It said Britainand’s strong economic performance in 2014 meant the number of foreign investment projects increased 12 percent year-on-year.
Cameron will travel to Milan on Wednesday, where he will meet Italian Prime Minister Matteo Renzi on the sidelines of the Milan Expo to discuss his EU renegotiation plans.
andquotThe scale of foreign investment is a huge success story,andquot said Cameron, who is taking a trade delegation with him.

SOURCE: Today’s Zaman