Japanese companies invest €20 billion in the UK

British Prime Minister Rishi Sunak announced a 20 billion euro investment package in the UK during his visit to Japan. However, concerns about the economic consequences of Brexit are being felt.

Partagez:

British Prime Minister Rishi Sunak announced Thursday that he has secured 20 billion euros of investment during a visit to Japan, particularly in green energy and technology, seeing it as “a vote of confidence in the British economy”, currently struggling.

The £17.7 billion of investment from Japanese companies will “enhance our joint strengths in science, technology and clean energy and, most importantly, boost our economy,” the Conservative leader, who is in Japan to attend a G7 in Hiroshima.

Marubeni plans to invest 10 billion pounds in the UK, including in offshore wind projects, Downing Street reported. Mitsubishi Estate and Mitsui Fudosan have confirmed plans to build affordable housing, high-quality office space and life science laboratories in London.

Rishi Sunak highlighted the fact that the UK is “the only European country” to have joined the Trans-Pacific Free Trade Partnership (CPTPP) agreement, as part of the new trade ties London is seeking to forge after Brexit. But the latter is weighing on the British economy. Reports of possible plant closures by carmaker Stellantis in the UK due to a lack of a post-Brexit trade deal with the EU are causing concern.

According to media reports, Ford and Jaguar Land Rover have also voiced their concerns as new provisions of the agreement are due to come into force soon. “This is a concern that has been raised by manufacturers across Europe, not just in the UK,” the Prime Minister told British media. “As a result, we have initiated a dialogue with the European Union on ways to address these concerns,” he added.

The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
Hungary, supported by Slovakia, strongly expresses opposition to the European Commission's plan to phase out imports of Russian energy resources, citing major economic and energy impacts for Central Europe.
Israeli military strikes on Iran's Natanz nuclear site destroyed critical electrical infrastructure but did not reach strategic underground facilities, according to the International Atomic Energy Agency (IAEA).
The French president travels to Nuuk on 15 June to support Greenlandic sovereignty, review energy projects and respond to recent US pressure, according to the Élysée.
Kazakhstan has selected Rosatom and China National Nuclear Corporation to build two nuclear power plants totaling 2.4 GW, a decision following a favorable referendum and coinciding with Xi Jinping’s upcoming strategic visit.
Israeli strikes against Iranian nuclear sites disrupt US-Iranian talks on the nuclear deal. Tehran now considers canceling the upcoming negotiation round in Oman, heightening regional economic concerns.
Facing alarming breaches of uranium enrichment thresholds by Iran and explicit existential threats, Israel launches targeted military strikes against Iranian nuclear infrastructure, escalating regional tensions dramatically.
The Kremlin has confirmed that Vladimir Putin aims to help resolve the nuclear dispute between the United States and Iran, leveraging strengthened strategic ties with Tehran.
President Lee Jae-myung adopts an energy diplomacy rooted in national interest, amid a complex international landscape of rivalries that could create challenging situations for the country and its energy businesses.
Paris and Warsaw held a bilateral workshop in Warsaw to strengthen coordination on electricity infrastructure investments and supply security under the Nancy Treaty.
Donald Trump firmly rejects any uranium enrichment by Iran, while Russia affirms Tehran’s right to civil nuclear power, intensifying tensions in negotiations over the Iranian nuclear program.
Syria has signed a $7bn agreement with a consortium of companies from Qatar, Turkey and the United States to rebuild its national power sector.
Friedrich Merz confirmed that Germany would block any attempt to relaunch the Nord Stream 2 pipeline, despite internal calls suggesting a potential reopening of dialogue with Moscow.
A memorandum of understanding formalises energy cooperation between the European Union and the Latin American Energy Organization, including permanent EU participation in the organisation’s governance bodies.
Prime Minister Viktor Orban announced that Hungary would oppose the EU's plan to ban Russian energy deliveries by 2027, both legally and politically.
Michael Kretschmer, Minister-President of Saxony, proposed restarting dialogue with Russia on the Nord Stream 2 pipeline, despite clear opposition from the German government to any reactivation of the project.
Donald Trump is calling on the United Kingdom to abandon wind energy in favor of revitalizing offshore oil extraction, sparking debate over the economic and political implications of such an energy strategy after their recent trade agreement.
China and Egypt concluded over 30 energy-focused agreements, including electric vehicles, smart grids and storage technologies.