LONDON: Japanese businesses have committed to invest almost £18 billion (US$23 billion) in Britain ahead of a meeting with Prime Minister Rishi Sunak today, including funding for offshore wind power and other clean energy projects.
Sunak is in Japan for a Group of Seven leaders’ summit and will meet business leaders as Britain prepares to join a trans-Pacific trade pact which includes Japan and Australia.
In a statement, Sunak’s government said companies attending the summit such as Marubeni Corporation and Sumitomo Electric Industries had pledged to invest in Britain.
It said Marubeni, a Japanese trading house, had announced its intention to sign an agreement with the government which envisaged approximately £10 billion of investment in Britain with partners over the next 10 years.
Other firms planned to invest in property, the statement said.