US companies vow to invest US$17.4bln in UK economy – London

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British Prime Minister Rishi Sunak speaks as he is interviewed across from the US Capitol in Washington, June 7, 2023. (Photo by KEVIN LAMARQUE / POOL / AFP)

MOSCOW, Russia – US companies have made commitments to invest over 14 billion pounds (US$17.4 billion) in the UK economy, with the funds expected to create thousands of additional jobs in the country and strengthen bilateral economic relations, the UK government said on Wednesday.

“£14 billion in major new investments by US companies create thousands of UK jobs and enhance an investment relationship now worth more than £1 trillion,” the UK government said in a statement, reported Sputnik.

The funds will be invested in various projects, including the construction of a hydrogen production plant in the British city of Hull, and a new Mars factory in London, the statement read. US companies BlackRock and Blackstone will make the largest contributions, of 9 and 2.4 billion pounds respectively.

The announcement came amid UK Prime Minister Rishi Sunak’s two-day visit to the United States, which started on Wednesday. On Thursday, the UK prime minister will meet with US President Joe Biden. The leaders are going to discuss support for Ukraine and UK Defence Minister Ben Wallace’s candidacy for the post of Nato secretary general.

In May, Sunak said that Japanese enterprises were also going to invest almost 18 billion pounds in the United Kingdom. – BERNAMA-SPUTNIK