Monday 7th July 2008
Foreign investment brings jobs to the north-west

Thousands of new jobs have been created in the north-west due to several foreign investment projects, it has been reported.

Figures from UK Trade and Investment revealed that there was 150 foreign direct investment (FDI) projects in the region in the last year which either saved or created more than 14,500 jobs.

North West Development Agency chief executive Steven Broomhead said: "These figures are a real lift from recent stories surrounding the slowdown of the global economy.

"FDI has been a fierce competition for some years now and we should take a great deal of encouragement in our region's achievements in the past year."

Despite the credit crunch threatening job security recently, FDI projects increased by 18 on the previous year and by 64 on 2004/5, creating thousands more jobs in the UK.

Lord Digby Jones, Minister for Trade and Investment, said: "In a year of international financial uncertainty this impressive performance exemplifies that now, more than ever, the UK economy is synonymous with opportunity and global potential."

Research shows that FDI projects create around 280 new jobs a week through 13 investments a month.

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