A £4 billion investment by Malaysian-owned YTL businesses will create over 30,000 jobs across the UK over the next five years. The announcement was made as Malaysian Prime Minister Dato’ Seri Anwar Ibrahim met with UK Prime Minister Keir Starmer in London on Wednesday, 15 January. The meeting also marked the launch of one of the largest brownfield developments in the UK, supported by Investment Minister Poppy Gustafsson.
Of the total investment, £2 billion will be allocated to the Brabazon development in Bristol. This project will deliver 6,500 new homes, three schools, and a 19,500-capacity arena with conference and exhibition facilities. According to YTL, the development will create thousands of jobs in the greater Bristol area. The remaining £2 billion will be invested in YTL’s UK businesses over the same period.
Business and Trade Secretary Jonathan Reynolds described the project as a “generational transformation” for North Bristol. “This investment is incredible news for the UK and will create infrastructure, schools, homes, and jobs in the region,” he said. “Our Plan for Change is delivering economic growth and showing the power of investment to transform our cities.”
Boosting UK-Malaysia Trade Ties
The investment comes as the UK strengthens its trade relationship with Malaysia. Trade Minister Douglas Alexander will meet with his Malaysian counterpart, Tengku Zafrul Aziz, on Thursday to lead the first ministerial-level Joint Economic and Trade Committee (JETCO).
The talks will focus on increasing trade and investment in key areas such as legal services, education, agriculture, and support for small and medium-sized enterprises.
Trade between the UK and Malaysia reached nearly £6 billion in the year to June 2024. This figure is expected to grow following the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which provides the first formal free trade agreement between the two nations.
Global Confidence in the UK Economy
Chancellor of the Exchequer Rachel Reeves highlighted the broader significance of YTL’s investment. “This is what our Plan for Change is all about—boosting growth, creating good jobs, and showing that the UK is open for business,” she said.
The announcement follows last year’s International Investment Summit and recent trade successes, including £600 million of investment secured in China. “We will continue to go further and faster to kickstart growth and make all parts of the country better off,” Reeves added.
A Growing Partnership
Under CPTPP, Malaysian investors now have greater certainty when investing in the UK, with fair and equal access guaranteed for businesses in both markets. The agreement reinforces the growing partnership between the UK and Malaysia, paving the way for continued economic collaboration and development.
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