Source · Select Committees · Business and Trade Committee
Recommendation 18
18
Accepted
Create an Office for Investment team to develop regional investment prospectuses in priority sectors.
Recommendation
We welcome the Government’s plans to expand the Office for Investment. To help drive strategic investments across the country, we recommend that a reformed and expanded Office for Investment should be build a team to work with Mayoral Combined Authorities and newly created strategic authorities capable of building a ‘term-sheet ready’ prospectus of investments in our regions, in the eight priority sectors listed by the Industrial Strategy. (Recommendation, Paragraph 86)
Government Response Summary
The government has launched a new Strategic Investment Opportunities unit within the reformed Office for Investment. This unit will work with Mayoral Strategic Authorities to identify, shape, and deliver strategic investment opportunities, focusing on areas prioritised in the Industrial Strategy.
Government Response
Accepted
HM Government
Accepted
11.1. The reformed Office for Investment will provide seamless support to the government’s most important international and domestic investors to secure a greater proportion of international mobile investment into the UK. As part of this, the government has launched a new Strategic Investment Opportunities unit within OfI, to work closely with the Place Unit. The two units will partner with key places (for example, Mayoral Strategic Authorities), government departments, and wider public organisations – including NWF’s advisory functions, to identify, shape and deliver on strategic investment opportunities with significant scope for private capital and investor interest. There will be a particular focus on areas prioritised in the Infrastructure Strategy and Industrial Strategy.