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Parliamentary debates and questions

S5W-06540: Ash Denham (Edinburgh Eastern)

Scottish National Party

Date lodged: 25 January 2017

To ask the Scottish Government whether it will provide an update on the action it is taking to promote inward investment.

Answered by: Keith Brown 7 February 2017

The Scottish Government, Scottish Enterprise and Highlands and Islands Enterprise are working together through Scottish Development International to attract inward investment to Scotland. Over the last year 55 inward investment projects have been attracted to Scotland and 354 for 4 of the last 5 years. The 2016 Ernst and Young Attractiveness Survey on inward investment to the UK http://www.ey.com/Publication/vwLUAssets/2016-UK-Attractiveness-Survey/$FILE/EY-UK-Attractiveness-Survey-2016.pdf

has shown that Scotland is the 2nd most attractive location for Foreign Direct Investment outside of London. With 79% of investors citing the Single Market as an important factor in their decision to locate in Scotland the UK Government's hard approach to Brexit puts this at risk.

Attracting inward investment is becoming increasing competitive on a global basis and it is important we prioritise and co-ordinate our efforts and resources to increase our success rate. To that end we look to match Scotland’s capabilities, assets and resources with the global market opportunity through our sectoral approach. In particular, we are increasing the co-coordinated efforts of our One Scotland approach in the technology and Financial and Business services sectors in California and London given its global hub position.