The UK government has secured a £7.5 billion investment from Japan’s Sumitomo Corporation to support key infrastructure and clean energy projects across the country. The deal was formalized in Tokyo by Minister for Investment, Baroness Poppy Gustafsson, and senior executives from Sumitomo, including CEO of the Energy Transformation Group, Mr. Hajime Mori, and Europe CEO, Mr. Hiroyuki Koike.
This strategic partnership aims to deliver substantial investment into the UK by 2035, aligning with the goals of the UK’s Modern Industrial Strategy and 10-Year Infrastructure Strategy. The focus areas include offshore wind and hydrogen energy, supporting the UK’s ambition to become a global leader in clean energy.
The announcement reinforces the UK’s standing as a prime global investment destination. It follows a Deloitte survey that ranked the UK as one of the most attractive countries for international investment. The agreement also reflects the success of the government’s Plan for Change, which seeks to accelerate long-term private sector investment into high-growth sectors.
This partnership builds on existing UK-Japan economic relations and recent trade developments, including the Industrial Strategy Partnership, Economic 2+2, and the UK’s ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP is expected to deliver an annual economic boost of £2 billion to the UK in the long run.
The announcement comes during Minister Gustafsson’s investment mission to South Korea and Japan, where she is engaging with key stakeholders to promote further foreign investment into the UK. The deal underscores the growing importance of UK-Asia Pacific trade ties, which are now valued at over £135 billion.
