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Britain to host int'l business festival to boost foreign investment

Xinhua, February 26, 2015 Adjust font size:

Britain will host its second International Festival for Business (IFB) in northwest England's city of Liverpool in 2016 to boost the country's reputation as a global hub for business and investment.

The festival aims to bring thousands of businesses to Liverpool in 2016 and to provide a platform for companies around the country to make global connections, British business secretary Vince Cable said on Wednesday.

"The success of the inaugural International Festival of Business in 2014 was a demonstration of our determination for the UK to remain a top destination for foreign investment," Cable said at the launching ceremony, adding he was confident the 2016 festival would be even more ambitious.

"Our economy is outperforming many of our rivals and now more than ever investors are looking for opportunities in Britain, from large infrastructure projects to small, innovative start-ups," he added.

Inaugurated in 2014, the first IFB was expected to generate more than 300 million pounds (about 464.7 million U.S. dollars) of trade and investment deals and create 10,000 jobs by 2017.

The festival is part of the British government's "Britain is Great" campaign, which looks to promote the country's reputation and attraction in business, tourism and education.

According to research by UK Trade and Investment (UKTI), Britain attracted the highest levels of inward investment on record between 2013 and 2014.

IFB 2016 is scheduled for June 13 to July 1, 2016. Endit