Prime Minister David Cameron kicked off proceedings for the first in a series of summer investment events today.
The Global Investment Conference will provide UK businesses with the opportunity to network and negotiate new business in the spotlight cast upon London during the 2012 Olympics and Paralympics.
The conference kicks off the largest and most ambitious set of trade and investment events ever held in the UK and is the first of a series of global business summits being held in London to showcase the UK during the Olympic and Paralympic Games.
The series of events has been kicked off with the announcement from the new owners of the Battersea Power Station that the development value of the project is expected to be £8bn, and is expected to provide 20,000 construction jobs at a time when the sector, and the manufacturers that supply it, have been struggling.
A £4.5bn investment in the intercity express programme, investing in more trains and infrastructure for the existing diesel intercity high speed train services, has already been announced.
There are plans to boost renewable energy that could see £25bn new investment in the economy over the next few years.
The Global Investment Conference comes on the day that inward investment results show that in 2011/12, inward investment created 52,741 new jobs and safeguarded a further 59,918 jobs.
Chancellor George Osborne said: “Britain has always been a country that is open to the world. In hosting the Olympic Games, we are showcasing that openness. As we welcome the world’s best athletes we also welcome the world’s best companies – so that they can succeed, invest, and create jobs in Britain.”
Jaguar Land Rover, which is owned by India-based Tata Motors, announced plans for a 1,000 new jobs yesterday. The sector, which is largely dominated by companies based outside of the UK, has managed to attract £4.5bn investment over the last two years.
The Mayor of London, Boris Johnson, said: “For the next month, I have transformed City Hall into ‘London House’, our showroom to the world, where wealthy international investors will be able to gather to see and hear why the best returns can be found in our great city which offers everything to ensure businesses not only succeed but thrive in the global market.”