£18bn investment commitment from Japan to UK

According to a statement from the British government, the investment plans were announced while British Prime Minister Rishi Sunak was in Japan for the G7 Leaders’ Summit.

The £18bn investments by Japanese companies are focused on offshore wind power, low-carbon hydrogen production and other clean energy investments.

In this context, Japan-based company Marubeni is planning an investment of 10 billion pounds for offshore wind power and green hydrogen projects in Scotland.

Sumitomo Corporation, on the other hand, aims to establish a £200m high-voltage cable manufacturing plant in Scotland, in addition to investing £4bn in offshore wind projects. The factory is expected to create 150 skilled jobs.

Real estate companies Mitsubishi Estate and Mitsui Fudosan expect to invest £3.5 billion in premium office space and affordable housing.

Toshiba also plans to invest £20 million in advanced quantum secure cryptographic communications solutions to expand its operations at Cambridge Laboratory, which will create 30 jobs.

British Prime Minister Sunak, in his evaluation of the commitments of Japanese companies, stated that these investments are an indicator of the confidence of Japan’s largest companies in the British economy, “These investments support the creation of skilled labor and ensure the transformation of local investments. We are increasing our trade relations with Japan and trade between us. The sky’s the limit.” used the phrases.

After talks in Japan, British company Octopus Energy announced that it will invest £1.5 billion until 2027 for smart energy systems in the Asia-Pacific energy market. The company will also invest £300m in its technology innovation center in Tokyo.

The current investments of Japanese companies in the UK are 92 billion pounds, and the trade volume between the two countries is 27.7 billion pounds as of last year.