LONDON – The UK Government is celebrating news of £2 billion of investment from the technology industry in the past week. The investment follows AI company CoreWeave's decision to locate its headquarters in the UK and Siemens' choice to manufacture superconducting magnets for MRI scanners at a new facility in North Oxfordshire.
The Computer & Communications Industry Association is a nonprofit, international technology industry association that has advocated for competition in the technology industry since 1972. The CCIA previously published a research report showing that the UK has the most advanced digital economy in Europe and that the UK is the most developed country in Europe. It is a leading investment destination for businesses of all sizes, startups and global technology companies.
The following is attributed to Matthew Sinclair, CCIA Senior Director and Head of CCIA London Office.
“The Government is right to praise global companies investing in UK technology. If the UK can leverage its long-standing strengths in the digital economy, it will unlock exciting new opportunities for British workers and improve It could contribute to the UK's long-term economic recovery from the challenges.However, policymakers should keep these opportunities in mind and ensure the UK has a reputation for good and responsible regulation. If we don't, the scale of the opportunity in the technology sector could undermine our hard-won reputation as a place to build services for global markets. If we can, it means we can get a bigger payoff than ever before.”
About CCIA:
CCIA is an international nonprofit trade association representing a wide range of communications and technology companies. For more than 50 years, CCIA has promoted open markets, open systems, and open networks. CCIA members employ more than 1.6 million workers, invest more than $100 billion in research and development, and contribute trillions of dollars in productivity to the global economy.
