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05/06/13 00:01

Report praises “sparkling” investment performance

Investors attracted amid debate on Scotland’s future.

Commenting on the 2013 Ernst & Young Attractiveness Survey on foreign direct investment (FDI) which describes Scotland’s performance in attracting inward investment as “sparkling”, Finance Secretary John Swinney said:

Commenting on the 2013 Ernst & Young Attractiveness Survey on foreign direct investment (FDI) which describes Scotland’s performance in attracting inward investment as “sparkling”, Finance Secretary John Swinney said:

“Scotland’s success at securing inward investment is clear and as this welcome report states ‘there is no sign of investors being deterred from coming to Scotland; if anything, the reverse appears to be true.’

“In fact this report shows a 49% increase in the number of projects coming to Scotland, flying in the face of claims made by the Chancellor of the Exchequer about the Scottish economy.

“Inward investment projects coming to Scotland are at their highest level for 15 years. Scotland is ranked number one for inward investment projects outside London, up from number two last year and we have maintained our consistent place as one of the top performers when it comes to attracting employment.

“According to Ernst & Young, Scotland is continuing to ‘raise its game’ in the face of an increasingly competitive global market and we are improving our competitive position within the UK’.

Scotland also has an underlying strength in manufacturing with 31% of inward investment projects focussed on our manufacturing skills next to 17% for rest of UK.

“The reality is that Scotland is securing jobs, investment and economic growth and as the latest figures show we are out-performing the rest of the UK when it comes to tackling unemployment.

“Business growth and investment are at the heart of our policies to secure economic growth. While the Scottish Government will continue to do all we can to help our businesses thrive with the full fiscal and economic powers of independence we could do even more to support companies, strengthen our economy and create jobs.

“This report demonstrates that Scotland has strong foundations and there can be no doubt that Scotland has the potential to be a successful independent nation.”