LOCATE In Kent has cautiously welcomed UK Trade and Investment figures, which show a 14 per cent increase in the share of inward investment into the UK during 2003-04.

Kent and Medway is playing a leading role in attracting inward investment into the UK, helping to end the slowdown of the previous two years. Of the 811 inward investment projects highlighted by UK Trade and Investment, 19 were reported by Locate in Kent (LiK), the inward investment agency for Kent and Kedway.

Those 19 were part of an overall success rate of 55 new investments into Kent and Medway between April 2003 and March 2004, which brought in £86.5m of capital investment into the local economy.

Paul Wookey, chief executive of LiK, said: “There is absolutely no room for complacency as we are facing tougher competition than ever, particularly from the lower-salaried Accession States, notably Poland and the Czech Republic.

“The challenges facing us over the next 12 months are daunting, but the processes we have put into place at Locate in Kent will enable Kent and Medway to capitalise on the opportunities those very challenges present.

“The UK Trade and Investment report proves that once again the UK tops the rankings as an ideal place for start-ups and established businesses looking to expand; this success along with our marketing initiatives are giving us a buoyant stream of projects.

“By focusing on Kent’s key sector strengths and, in partnership with the South East England Development Agency, Kent County Council and the four new delivery boards, on the key regeneration areas of Thames Gateway Kent and Ashford we are working hard to bring these projects to fruition.”

LiK continue to work closely with overseas partners in the Far East and the US to maintain and develop vital sources of inward investment into the region. Renewed interest is also coming on stream from Northern Europe, particularly France for the first time in two years, with a number of new projects currently in the pipeline.

UK Trade & Investment is the Government organisation that supports both companies in the UK trading internationally and overseas enterprises seeking to locate in the UK.