Derby’s attractiveness to overseas investors increases

Derby has been named as a top 20 UK city for foreign investment attractiveness by a new report.

The UK Attractiveness Index, compiled by Irwin Mitchell and Centre for Economics and Business Research (Cebr) examines the latest changes to Foreign Direct Investment (FDI) attractiveness of 50 locations based on 10 economic indicators.

Derby has been ranked 20th, up four places from the previous quarterly edition of the study, with an overall score of 33.5.

Nottingham is ranked 30th with a score of 28.4 and Leicester is 40th with a score of 25.8.

Earlier this year, Derby’s strategy for attracting overseas investment to the city was named the best in the UK in rankings compiled by the Financial Times.

Part of Marketing Derby’s Invest in Derby service involves attracting foreign direct investment to the city.

In the prestigious Financial Times’ fDi European Cities and Regions of the Future 2024 rankings, Derby was placed third within the Top 10 Small European Cities for FDI Strategy category, which recognises the cities who have devised the strongest strategy for attracting investment.

The only cities placed higher than Derby this year were Cork, in Ireland, and Braga, in Portugal.

Following the Covid-19 pandemic, Derby focused on diversifying its economy.

It is a strategy that is continuing to reap dividends, attracting international investments from major companies and investors.

They include German heating technology giant Vaillant, Swedish medical technology manufacturer Getinge and South Korean car manufacturer Kia.

All three companies have invested in new bases at Indurent Park Derby, a multi-million-pound business park being created by Indurent.

Elsewhere, Cale Street Partners, backed by the Kuwaiti Sovereign Wealth Fund, is continuing to invest in the Derbion shopping centre.

John Forkin, managing director at Marketing Derby, said: “We welcome the findings of this new report.

“Earlier this year, Derby’s strategy for attracting investment was rated the best in the UK – and in the top three in Europe.

“Our Invest in Derby service works incredibly hard to fly the flag for Derby as we seek to diversify our economy.

“The city has always prided itself as a UK home for the international business community and our recent successes illustrate this.”