Scotland Named as FDI European Region of the Future 2008
Scotland has been named as the European Region of the Future 2008 by the Financial Times fDi (Foreign Direct Investment) magazine, beating 38 other European Regions for the title. This is the second time Scotland has won this prestigious annual award in the last 4 years and it is also currently the UK Region of the Future 2007; and Europe’s Region with the best Human Resources.
Scotland came top by scoring highest in the judging categories of economic performance, human resources, IT and telecommunications, transport links, quality of life and overall FDI promotion strategy. Edinburgh, Glasgow and Scotland as a whole also featured in the top ten ‘Most Business Friendly’ cities or regions in Europe.
fDi’s judges were impressed with Scotland as a whole and its ambitious plans to develop the River Clyde, which is set to create 33,000 jobs. They were also impressed by developments such as Edinburgh BioQuarter and the Seabraes Yard digital media park in Dundee, recent investment by Scotland’s universities, improved airline routes and by the fact that over 1,500 foreign owned companies have set up and are registered in Scotland.
fDi’s judges also gave high scores for Scotland’s development strategy and for recent high-profile investments from companies such as pharmaceuticals firm Wyeth, and financial institutions such as JP Morgan, Barclays and Morgan Stanley.
Enterprise Minister Jim Mather MSP said: "The European Region of the Future Award demonstrates Scotland's huge economic potential. This government is determined to tap into this potential and - as the award demonstrates - we are already making Scotland an even more attractive place to invest. People across Europe are realising that Scotland's government is determined to increase economic growth and they want to be part of that.
"As set out in the Government Economic Strategy, our economic policies will breath new life into the whole of Scotland. For example, reducing and removing business rates sends out a clear signal to investors that Scotland is a country serious about business.”
Lena Wilson, Chief Operating Officer at Scottish Enterprise said; “This is a tremendous result for everyone who works so hard to promote Scotland internationally, particularly my colleagues in Scottish Development International for their success in attracting investment to Scotland year on year.
“To have been benchmarked against our competitors is very satisfying as we know just how tough the competition is. Winning the award twice is undeniably a huge achievement and bodes well for future investment.”
To find out information on further awards that SDI have won please click here.