The UK government is set to host its first international investment summit on October 14, attended by senior executives from major companies such as Google, Wave and Brookfield Asset Management, it was announced today. The event aims to increase foreign direct investment and stimulate economic growth, a key objective of Prime Minister Keir Starmer since his election in July.
Tesla CEO and X owner Elon Musk had expressed displeasure over not receiving an invitation to the summit last month. Despite this, the lineup includes notable speakers such as Ruth Porat, chairman and chief investment officer of Alphabet (NASDAQ:) and Google; Wave CEO Alex Kendall; and Bruce Flatt, CEO of Brookfield Asset Management.
The summit attracted sponsorship from major financial institutions including Barclays, HSBC, Lloyds, M&G, Octopus Energy and TSL Group. The Government emphasizes that the event is an opportunity to build lasting partnerships with businesses, providing investors with the certainty and confidence they need to boost UK growth.
In preparation for the summit, Starmer will lead the first Council of Nations and Regions in Scotland on Friday. The meeting will bring together leaders from Scotland, Wales, Northern Ireland and regional mayors from across England to discuss investment and growth strategies.
The government also unveiled on Friday a significant investment of £21.7 billion ($28 billion) in carbon capture initiatives, highlighting its commitment to sustainable growth and economic expansion. The current exchange rate was noted as 1$ equal to £0.7624.
Reuters contributed to this article.
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