Sir Keir Starmer met his Malaysian counterpart Anwar Ibrahim in Downing Street for trade talks as part of the Government’s scramble for investment and economic growth.
The meeting came as Malaysian firm YTL announced plans for £4 billion of investment in the UK over five years, including £2 billion for its arena and housing development north of Bristol.
The remaining £2 billion will be invested in YTL’s UK businesses over the next five years, the Government said.
Prime Minister Sir Keir Starmer with Malaysian counterpart Anwar Ibrahim inside No 10 (Leon Neal/PA)
Chancellor Rachel Reeves said the investment “will boost growth, create good jobs and shows the UK is open for business”.
“We will continue to go further and faster to kickstart growth to make all parts of the country better off,” she said.
The Brabazon Bristol project, on the site of the former Filton airfield in South Gloucestershire, is one of the biggest brownfield redevelopments in the UK.
It will eventually involve 6,500 properties, three new schools and a 19,500-capacity arena.
Business Secretary Jonathan Reynolds said: “By creating the right conditions and giving investors the confidence they need to make big investments in Britain, our plan for change is delivering economic growth and showing the power of investment to transform our cities, and give working people the security they deserve.”