UAE set for multi-billion investment in UK
Abu Dhabi will invest up to £5 billion in the UK's tech sector and infrastructure over the next five years, according to a report in the Financial Times on Wednesday.
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"They will mean we can channel investment into all corners of the country, and that exporters - whether they're selling Scotch beef, Welsh Lamb or cars made in the North of England - have access to the expertise they need to sell into the fastest growing markets."Justin Urquhart-Stewart, co-founder of Seven Investment Management, told the BBC that it was encouraging to see the government was focusing on businesses outside London but said the priority should be in making direct investment to help regional businesses grow."The capitals of the three nations and Darlington are not necessarily where the industries are," he added. "You're not exporting anything from there, so why are you giving the export advice?"Mr Urquhart-Stewart said more direct investment was required in areas such as Leicester, Manchester, Preston and Sunderland. "You should have investment hubs in those areas," he said. "We're really good at setting up businesses in this country, better than France and Germany put together - however, where we fall down is to provide the investment to go from seedling businesses to growth businesses."
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