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<p>Investment is at the very heart of the UK economy - it supports economic growth,
creates jobs and enables improvements in productivity for new and existing firms.
It is also essential for successful delivery of the Government's objective to make
the UK a science and technology superpower by 2030.</p><p>The Department for Business
and Trade promotes a range of investment opportunities across the science & technology
sector. DBT works to attract foreign corporates to the UK, developing compelling investment
propositions for DBT's international network to bring to prospective investors, this
includes both sector-wide and place-based opportunities. DBT has dedicated based staff
across the UK who work with the DAs/their agencies, wider DBT teams, Office for Investment
and other UK government departments to deliver investment in priority areas, including
science and technology. DBT teams work closely with partners to deliver events to
attract investment, such as the Northern Ireland Investment Summit that was held in
Belfast, September 2023.</p><p>The UK has 13 new Investment Zones which will benefit
from £160 million each of Government funding to unlock foreign investment across priority
sectors, especially science and technology, with a focus on driving innovation and
creating quality jobs. These will be new hubs for investment and innovation across
the UK and the funding spread over 10 years, will be spent on fiscal incentives and/or
flexible spend to support attracting FDI. In line with the government's levelling
up objectives, they are established in places with significant unmet productivity
potential, where existing strengths and assets aligned to priority sectors can be
leveraged to increase opportunities for local communities. Investment Zones will be
established in partnership between central government, local government, research
institutions and the private sector. The Investment Opportunity Fund is intended to
double down on the objectives of Freeports and Investment Zones by providing a flexible,
agile pot of funding that government can use to secure and respond to opportunities
in these areas as they emerge.</p>
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