Birmingham has beaten international competition to be named the location with the most potential to attract foreign direct investment.
The city won FDI Destination of the Future ahead of locations including Colombia and the Czech Republic on the back of the amount of investment in city businesses.
Sir Albert Bore, Leader of Birmingham City Council, said the city had generated a reputation for attracting and retaining investors from across the globe.
He said: “Organisations from across the city are working closely together to ensure we offer the best possible support package and incentives to potential investors. Birmingham offers firms a highly skilled workforce, vibrant business community, and excellent access to the rest of the UK and Europe. Our message to foreign investors is simple: Birmingham is open for business, and we want yours.”
Birmingham was presented the title at the international FDI Association Awards, held at the 10th Anniversary World Forum for FDI.
It was the only UK city to win an award, having been recognised by a panel of business location experts including senior executives from IBM, Jones Lang LaSalle and industry data analyst, fDi Intelligence.
The city also came second in the ‘Most Innovative FDI-attraction Incentive Programme of the Year’ category.
Industry expert Roel Spee, global leader of PLI Global Location Strategies at IBM, said: “Strong collaboration within the city is already generating significant investment in its people and infrastructure, and is significantly raising investors’ awareness of Birmingham. The city is already attracting more inward investment than ever, and I am confident that this success is set to continue.”