Abu Dhabi ‘to invest billions’ in British business – News 24-7 Live News 24-7 Live
Abu Dhabi ‘to invest billions’ in British business

Abu Dhabi ‘to invest billions’ in British business

An Abu Dhabi investment fund has agreed to pay £800m into UK life sciences, in what could be the first of billions of pounds of investment in the UK.

Mubadala, one of the UAE’s most active funds, will invest the money over five years.

Abu Dhabi is set to invest heavily in British health, tech, green energy and infrastructure, according to the Financial Times.

It is thought investments in the other sectors will be of a similar scale.

The exact size of the total investment is not yet clear, the FT said, but could be worth up to £5bn.

The UK government said Mubadala’s investment in UK life sciences would be “deployed alongside the UK’s £200m Life Sciences Investment Programme”, which was announced last year.

“This partnership will enable the UK life sciences sector to develop cutting-edge technologies and research while retaining homegrown innovation and jobs,” said the UK Minister for Investment, Gerry Grimstone.

“It will also leverage the UK and UAE’s mutual priorities in building better and stronger economies through investment.”

On Tuesday, the minister had told the FT: “We think the future opportunities are very, very sizeable.”

News Source:- BBC

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