Partner Article

Agreement between UKTI and Tees Valley Unlimited to boost LEP

UK Trade and Investment has shown clear signs of recognising the value of the newly formed LEPs after signing a Memorandum of Understanding with Tees Valley Unlimited.

The Memorandum will recognise Tees Valley Unlimited as the lead contact for co-ordinating inward investment across the sub region, and hopes to offer a new way of working to direct international projects towards the UK while promoting the resources and incentives available in the new zones.

Neil Kenley, Tees Valley Unlimited’s Director of Business Investment said: “Together, UKTI’s Inward Investment Service and TVU will look to ensure greater foreign direct investment by better utilising existing knowledge of local assets and capabilities.

“The partnership will further optimise the use of collective resources such as sector intelligence and market need to build upon the existing offer to location consultants and potential investors across the globe.”

A ‘UK First’ model will be used in this process to develop inward investment propositions, whilst also improving the experiences of companies wishing to invest in the UK.

Mark Phelan, Director of Investment UKTI added: “Foreign companies seeking to locate and grow their business in and from the UK will now have a clear point of entry to the government’s inward investment support.

“International businesses continue to choose the UK as the most attractive destination in Europe for their investment projects. The new ‘UK First’ model underlines our commitment to maintaining this position.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .