Investment deals in growth sectors worth billions of pounds are expected to be announced by businesses and government ministers as the UK hosts its first International Investment Summit.
Taking place today (14th October), the event will see CEOs and investors from around the world meet with ministers, local and regional leaders at London’s Guildhall, where Prime Minister Sir Keir Starmer is also expected to announce action to scale back regulations where they are inhibiting growth and investment in the UK economy. The government will ask the CMA to prioritise growth, investment, and innovation through their work as a priority and it will also be reviewing the focus of other major regulators.
The International Investment Summit aims to provide an opportunity to showcase the UK’s economic strengths to attract investment from major businesses from around the world, with a focus on key growth sectors, including AI and life sciences, and infrastructure.
In his keynote speech opening the summit, the Prime Minister is expected to promise to scrap “regulation that needlessly holds back investment” and ensure it keeps pace with emerging industries. The government will ask the CMA to prioritise growth, investment, and innovation through their work as a priority and it will also be reviewing the focus of other major regulators.
The summit will involve sessions with ministers and business leaders to discuss how to ensure the UK capitalises on emerging growth sectors including health tech and AI, clean energy and creative industries. Confirmed speakers including Ruth Porat President & Chief Investment Officer of Alphabet, David A. Ricks Chair and CEO of Eli Lilly, Alex Kendall CEO of Wayve and Pushmeet Kohli Vice President of Research at Google DeepMind.
Tech Secretary Peter Kyle will also take part in a conversation about accelerating innovation as well as sign a memorandum of understanding with Elderberry, the world’s largest pharmaceutical firm, which sets the stage for a world-first trial of obesity medications on the NHS, in Greater Manchester, while the company plans to set up a new biotech hub in the UK.
Investment Minister, Poppy Gustafsson OBE, said:
“It’s never been a better time to invest in Britain. This summit is a hugely significant moment to showcase the UK’s economic strengths on the world stage and I’m delighted to be part of the government’s important work to drive growth and investment across the UK.”
Ruth Porat, Chief Investment Officer at Alphabet Inc, said:
“Google is proud of our long history of meaningful investments in local talent, infrastructure and digital skilling in the UK which help everyone participate in the benefits of the digital economy. With the UK’s rich academic heritage, particularly in the sciences, it is well-positioned to capture the many opportunities that AI can deliver.
“The Investment Summit is an important moment to reflect on the progress to date, and how to best position the UK as a global leader in AI, with the economic and societal benefits this transformative technology can deliver today, and in the years ahead.”
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