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  • Writer's pictureKenneth Gibson MSP

Scottish Enterprise Optimistic about Inward Investment

Scottish Enterprise Interim Managing Director Neil Francis has expressed his confidence that “there’s every reason to believe that Scotland will continue to be an unparalleled destination for international companies to locate, grow and flourish in.”

Mr Francis highlighted that 14 tech companies chose Scotland in the last quarter as a business location, creating more than 500 jobs between them.

Scottish Enterprise supported 74 inward investment projects in FY20/21, ranging from companies headquartered in North America, Asia, continental Europe and Australia. Thirty of these were new investor projects choosing to locate in Scotland for the first time. In total, inward investment accounts for approximately 34% of employment (624,000 jobs) in Scotland.

Scottish Enterprise secured more than 4,300 planned real living wage jobs for Scotland through Foreign Direct Investment in FY20/21.

Mr Francis said:

“Scotland’s reputation for digital excellence has also recently been bolstered following analysis from the UK’s Digital Economy Council, which named Edinburgh as one of the UK’s leading tech cities. And only this week, FinTech Scotland research revealed a 27% increase in the number of fintech enterprises in Scotland, many of whom are international firms.

“All of this good news followed fast on the heels of a successful COP26 in Glasgow in November, where Scottish Enterprise was thrilled to announce many inward investment projects that will take place in Scotland.

“This included Dutch-headquartered global health & nutrition company, DSM choosing its site in Dalry, North Ayrshire to manufacture its ground-breaking feed additive, Bovaer®, which results in a 30% or more reduction in methane produced by cattle. The project, supported by Scottish Enterprise, will create and safeguard hundreds of high-quality jobs.”

Kenneth Gibson MSP added:

“The fact that Scotland has done so well attracting inward investment despite the lowest global Foreign Direct Investment levels in 30 years due to COVID, attests to the resources, ability for innovation and excellent support Scotland has to offer.

“As Mr Francis specifically mentions, the DSM innovative investment in the Dalry facility, which will create further employment, was made possible thanks to Scottish Enterprise and IL look forward to seeing further growth and investment in the year ahead.”

Click here to view the SNP Government’s Inward Investment Plan.



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