Caithness Map :: Links to Site Map Great value Unlimited Broadband from an award winning provider FRI 4TH APR 2025    1:37:19 PM BST
This site uses cookies, by continuing to use this site you accept the terms of our privacy policy
Back To Top
Caithness.Org Quick Links
Home
Construction
Leisure
Manufacturing
Misc.
Primary
Professional
Public
Retail
Tourism
Transport
Site Map
 
 
 
 
 
 
 
 
 
 
 
 
 

Feed 2.0 Loading...

Agencies Hail Scotland's Attractiveness For Foreign Investment

20th June 2023

Photograph of Agencies Hail Scotland's Attractiveness For Foreign Investment

Scotland's enterprise and skills agencies have hailed the news that the country remains the most attractive location in the UK outside of London for Foreign Direct Investment (FDI).

In EY's latest Scotland Attractiveness Survey published (Monday, 19 June 2023), the figures show that a record 126 inward investment projects were secured by Scotland in 2022, a 3.3% increase compared to 2021 when 122 FDI projects were attracted to the country.

This helped Scotland to increase its share of the total inward investment projects attracted by the UK, from 12.3% in 2021 to 13.6% in 2022.

In the Highlands and Islands last financial year, HIE worked with six inward investment projects that created 143 jobs for the region, many in rural areas. They include Orbex in Moray, 1888 Uisge Ltd in the Outer Hebrides and Bute Island Foods in Argyll & Bute.

Vicky Grant, HIE's head of international trade and investment, said, "It's great to see the Highlands and Islands continue to make a huge contribution to Scotland's overall success and attractiveness for foreign direct investment. In addition to the outstanding quality of life available here, our region offers expertise across sectors such as space, energy, food and drink and health tech, as well as excellent infrastructure and connectivity.

"As Scotland’s development agency for the region, we work closely with companies looking to invest here. We help them identify the ideal location, find premises, help with recruitment and training, and can often also help financially. Beyond that, we continue working with them to make sure they have access to the full range of support they need to prosper."

The figures published by EY also show that amongst investors, Scotland polls as the most attractive location in the UK to invest after London. A record 19.2% of investors also intend to establish or expand operations in Scotland in future, according to the report.

EY’s results, which cover the calendar year January-December 2022, align with Scottish Development International (SDI) figures announced earlier this month that showed more than 8,500 planned real living wage jobs had been generated by inward investment in FY22/23 (financial year), the highest number of planned jobs secured since FY18/19.

Adrian Gillespie, chief executive of Scottish Enterprise, said, "These results are a terrific signal of Scotland’s continued success at attracting FDI.

"The findings of EY’s Attractiveness Survey are testament to the dynamic business environment that Scotland offers to investors, including our enviable skills base, world-class universities, vibrant innovation districts, ambitious entrepreneurial communities, and the outstanding quality of life on offer.

"EY’s Attractiveness Survey follows hot on the heels of our own results that showed more than 8,500 planned jobs had been secured over the past financial year through inward investment projects supported by Scotland’s enterprise and skills agencies., the highest figures since 2018/19.

"For Scotland to once again be the most attractive location in the UK outside of London for FDI projects is a fantastic achievement that will further enhance our growing global reputation. As an internationally focused innovation and investment agency, Scottish Enterprise and our global SDI colleagues will continue to work with our Team Scotland partners to promote the very best our country has to offer to international companies and investors."

Jane Morrison-Ross, chief executive of South of Scotland Enterprise, said, "These survey results are another positive indicator that Scotland is a hugely attractive country to invest in.

"Together with our Team Scotland partners, we are committed to ensuring we build on these results, for the benefit of Scotland, and the South of Scotland.

“We aim to do this by using our strengths to continue to promote our country in a way that allows us to highlight our natural economy, create more sustainable jobs, contribute to the wellbeing of our local economies, environment and communities, and, ultimately, attract even more appropriate investment."

Marion Beattie, Head of Skills Growth and Inward Investment at Skills Development Scotland (SDS), added: “A skills and learning system that’s based on the latest intelligence, and is flexible and responsive to the needs of employers is one of the key factors for businesses making investment decisions.

“That’s why SDS is committed to working as part of Team Scotland to provide comprehensive and co-ordinated support to potential inward investors, from the earliest stages onwards, so we can continue to build on our strong track record."

PHOTO
Vicky Grant, HIE's head of international trade and investment.Photographer - Gillian Frampton

 

Related Businesses

 

Related Articles

Moray agriculture firm in £400k growth projectThumbnail for article : Moray agriculture firm in £400k growth project
A family run agriculture company in Moray has embarked on a major growth project that will increase production and efficiency, improve product quality and create jobs.   James Taylor & Son, operating at Kintessack near Forres, has secured up to £161,446 from Highlands and Islands Enterprise (HIE) towards total project costs of £403,616.  
Limited space for businesses on Digital Tourism Support programme
Businesses in the tourism sector and its supply chain in the Highland Council area are being encouraged to secure a place on the Digital Tourism Support Programme.   The programme is offering support to eligible businesses and social enterprises of up to three days of free, personalised, one-to-one digital advice from industry experts.  
£10 million planned for Port of Nigg projectThumbnail for article : £10 million planned for Port of Nigg project
Public investment is planned for a major redevelopment project at Port of Nigg in the Highlands.   Highlands and Islands Enterprise (HIE) has approved up to £10 million to support development of the port's Inner East Quay, which will result in the creation of a new heavy-duty quayside and the introduction of roll-on roll-off capability.  
Next phase of small business units for Wick Business Park
A further phase of development is getting under way at Wick Business Park in a move that will support economic growth and strengthen population retention in Caithness.   Park owner Highlands and Islands Enterprise (HIE) has awarded a £1.8m contract to Morgan Sindall Construction and Infrastructure Ltd to build a further four new business units.  
Alistair Dodds Chair of HIE to retire in JulyThumbnail for article : Alistair Dodds  Chair of HIE to retire in July
The chair of Highlands and Islands Enterprise (HIE) has announced plans to retire from the role in July.   Alistair Dodds CBE has served on the HIE board for 11 years.  
Cairngorm Mountain Railway returns to serviceThumbnail for article : Cairngorm Mountain Railway returns to service
The funicular railway at Cairngorm Mountain resort returned to service on Thursday 27 February 2025.   Scotland's only funicular railway has been out of action since August 2023, while an extensive programme of remediation works has been carried out, led by contractor Balfour Beatty on behalf of estate owner Highlands and Islands Enterprise (HIE).  
HIE approves further £863k for Inverness Castle project
Highlands and Islands Enterprise (HIE) has approved a further £863,000 contribution to the Inverness Castle Experience project.   Led by The Highland Council, the Inverness Castle Experience is a key project within the Inverness and Highland City-Region Deal, a joint initiative supported by up to £315m investment from the UK and Scottish governments, The Highland Council, HIE and University of the Highlands and Islands, aimed at stimulating sustainable regional economic growth.  
Food and drink businesses offered new help with net zero planningThumbnail for article :  Food and drink businesses offered new help with net zero planning
Highland based food and drink producers have until 28 March to enquire about a new support programme aimed at helping businesses in the sector to cut carbon emissions.   Highlands and Islands Enterprise (HIE) is looking for small to medium enterprises (SMEs) to take part in the food and drink TechHUB Net Zero Mobilisation programme.  
£5m approved for Scapa Deep Water QuayThumbnail for article : £5m approved for Scapa Deep Water Quay
Ambitious plans to create a major new renewables hub in Orkney have been accelerated with a £5m grant to help take the project to the next stage.   The funding from Highlands and Islands Enterprise (HIE) will further the development of a new harbour facility for the assembly of offshore wind turbines at Scapa Flow - the largest natural harbour in the northern hemisphere.  
HIE welcomes report of £8bn wave and tidal energy potential
Highlands and Islands Enterprise (HIE) has welcomed a new report into the economic potential of wave and tidal energy for Scotland.   The study was carried out by the Policy and Innovation Group, part of the Institute for Energy Systems at the University of Edinburgh (UoE).