The Government has today published a new National Security and Investment Bill. It also yesterday announced the establishment of a new Office for Investment.
Miles Celic, Chief Executive Officer, TheCityUK, said,
The UK is a world leader in attracting foreign direct investment, with a hard-won and well-earned reputation for being open and welcoming to global investors. The government is right to list security, speed, certainty and transparency as their core objectives. As the UK sets out on the path to recovery after the pandemic, and on its new journey outside of the EU, remaining an internationally competitive and attractive place to invest is essential.
“The Office for Investment is a welcome signal of the UK’s commitment to remain one of the world’s most attractive destinations for investment. This helps to drive jobs, innovation and prosperity across the UK. The industry will also welcome the tight focus of the Bill on National Security rather than on more expansive criteria, and on making the investment screening regime easier to navigate. This is a timely opportunity to provide the right structures which are fit for the future. We look forward to engaging with the government to secure the right outcome for the UK and those keen to invest in its economic future.”