Brexit: ‘Foreign businesses’ looking to invest in UK says expert
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Millions want to pump cash into markets where our European Union membership would have restricted free-trade with. The revelation comes after another opinion poll found that more Britons for the first time said our decision to quit the bloc was the right one. On the back of this Brexit optimism, investors are starting to look at previously out-of-reach markets, like India, Vietnam and Brazil.
According to research carried out by investment firm JPIN VCATS, around 14 million Britons now want to do business in these emerging markets.
In contrast, just 6.1 million would invest in traditional British stocks and shares.
And businesses are backing Boris Johnson’s planned climate change revolution with around 45 percent saying they would back green tech in emerging markets.
Another 35 percent would invest in the medical sector following on from the global pandemic, with BioTech considered one of the most popular new markets.
Usually, the EU is the UK’s main global trading partner, with the bloc representing 47 percent of Britain’s total trade.
But according to Visual Capitalist, the share of UK exports travelling to the Brussels project has been consistently falling over recent years.
Their figures show that 85 percent of the world’s population live in rapidly growing economies, and already contribute 75 percent of the world’s GDP.
Nayan Gala, co-founder of JPIN VCATS, said: “Although our statistics are interesting, they shouldn’t be surprising.
“These markets have already held incredible potential, and this potential is being realised at an ever-increasing rate.
“It’s clear to see that Brexit is promoting overseas investment and emerging markets for UK investors, and this now matches public opinion that approves of Brexit for the first-time since the referendum.”
The investment guru said the prospect of international trade with new markets was the “light at the end of the tunnel” after more than four years of tumultuous Brexit negotiations.
He said: “Free trade agreements with the worlds’ emerging economies, that would have been forbidden under EU-law, are the light at the end of the tunnel after various issues and frictions after the initial departure from the EU.
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“It is a shame that the British and Indian PMs couldn’t meet to finalise the free trade agreement between the two nations, as it is a priority for the British economy and the Government – evidently, British investors now agree.”
To reach their conclusions, JPIN VCATS asked 2090 people “which, if any, of the below sectors within the UK or emerging markets would appeal to you post Brexit and the Pandemic? By emerging markets, we mean markets such as India, Vietnam and Brazil who have developed economies but not to the extent of the US or UK.”
And in a separate study by Statista, as of April 21, 46 percent of people said it was the right decision to quit the EU.
In contrast, 43 percent said it was wrong to leave and 11 percent responded “don’t know”.
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It was the first time since the research begun in January last year that returned a positive result for Brexit.
Boris Johnson was hoping to announce plans to “more than double trade with India to £50 billion by 2030” on a visit to meet the country’s PM Narendra Modi.
The Prime Minister wants to slash tariffs on British whisky and cars in under a year as part of an ambitious free-trade agreement.
But he was forced to scrap his visit to New Delhi as the country suffers from a catastrophic wave of Covid infections.
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