Birmingham hailed for overseas investment strategy

Victoria Square, Birmingham

Birmingham hailed for overseas investment strategy

Greater Birmingham has the best strategy for attracting foreign direct investment (FDI) of all large cities in Europe.

This is according to fDi Magazine's European Cities and Regions of the Future ranking, one of the industry’s most prominent benchmarks of FDI competitiveness.

The awards, which are run by fDi Magazine, a division of the Financial Times, also rank Greater Birmingham in Europe’s top 10 large cities for connectivity and business friendliness.

The rankings are based on the support services offered to new businesses and unprecedented levels of infrastructure investment underway to improve connectivity and pave the way for HS2.

An international awards ceremony will take place at property conference MIPIM (Cannes, Frances) on Tuesday 13th March.

Ian Ward, leader of Birmingham City Council, commented: “The latest awards from fDi Magazine are a testament to the region’s robust growth strategy, critical mass of talent and continuously evolving landscape.

“Greater Birmingham focuses on sectors that either generate a high number of jobs, highly skilled roles or have the potential to make a significant economic impact in the future.

“This city region is also in an excellent position geographically; being in the centre of the UK allows firms to access all national markets with ease.”

The sectors investing in Greater Birmingham reflect the city region’s strategy for targeting key sectors from advanced manufacturing to life sciences; professional and financial services to tech and digital media.

Recent investors include global German-owned manufacturer Guhring, which recently unveiled its new £12 million UK headquarters in Birmingham and Chinese automotive giant Changan moving to Solihull and US hydraulic supplier HydraForce.

Tim Pile, chair of Greater Birmingham and Solihull Local Enterprise Partnership, commented: “The scale of investment coming into Greater Birmingham has rapidly gained momentum in recent years, creating a more diversified, robust economy.

“There is increased confidence in the region following large-scale infrastructure and development schemes such as its two HS2 stations, the £400 million extension of Birmingham Airport and The Hub in Solihull.

“These sorts of developments demonstrate to investors that Greater Birmingham is an ideal place for running an international business.

“Channelling investment into Greater Birmingham is not solely about being attractive financially and geographically; the talent needs to be available as well.

“Greater Birmingham has the highest percentage of people under 25 of all LEP areas, and businesses are able to capitalise on the young and highly skilled workforce here.”