Foreign Investment in UK: Caribbean and Latin America

Department for International Trade written question – answered on 12th February 2021.

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Photo of Baroness Anelay of St Johns Baroness Anelay of St Johns Chair, International Relations and Defence Committee, Chair, International Relations and Defence Committee

To ask Her Majesty's Government what assessment they have made of the progress achieved by the Latin America and Caribbean Investor Club since its establishment by the Department of International Trade in April 2019.

Photo of Lord Grimstone of Boscobel Lord Grimstone of Boscobel The Minister of State, Department for International Trade, The Minister of State, Department for Business, Energy and Industrial Strategy

Since the launch of the Latin American and Caribbean (LatAC) Investors Club, established to foster business connections between the United Kingdom and the region, the club has brought together over 180 participants, from overseas investors, HM Government, and British companies for two annual events (in 2019 and 2020).

These events provided opportunities for HM Government to strengthen its relationship with investors from the LatAC region, helping us to better support and maintain Foreign Direct Investment (FDI), and map potential expansions. Since its launching, club members have supported British growth through at least six new expansion projects, contributing to 73 jobs across the United Kingdom.

In 2021, we are expanding the programme to strengthen contact with investors to address requests for assistance and provide a forum to on how to improve Britain’s competitiveness. It will support account management of around 200 existing LatAC investors in the United Kingdom, in coordination with the Department for International Trade’s FDI officers, Ministers, Trade Envoys, Her Majesty’s Trade Commissioner, and Ambassadors, to build and maintain strong relationships at senior levels.

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