London – The UK government is celebrating news of £2 billion in investments coming from the tech industry in the past week. The investments come from AI firm CoreWeave deciding to headquarter in the UK and Siemens choosing to manufacture superconducting magnets for MRI scanners at a new facility in North Oxfordshire.
The Computer & Communications Industry Association is a not for profit international tech trade association, which has advocated for competition in the tech industry since 1972. CCIA had previously released a research report showing the UK had the most advanced digital economy in Europe, making it a leading destination for investment, startups, global tech companies, and businesses of all sizes.
“The Government is right to celebrate global companies investing in the UK tech sector. If the UK can leverage its longstanding strengths in the digital economy, it can attract exciting new opportunities for British workers and contribute to the country’s long-term economic recovery from the challenges of recent years. Policymakers need to keep these opportunities in mind and ensure that the UK secures a reputation for proportionate and responsible regulation, however, or they could undermine a hard-won reputation as the right place to build services for global markets. The scale of the opportunities in the tech sector mean that the rewards if we can get this right are greater than ever.”
CCIA is an international, not-for-profit trade association representing a broad cross section of communications and technology firms. 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.
