Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Abe said it was "better for the world" for Britain to stay in the European Union/AFP

Kenya

Brexit would make UK ‘less attractive’ for Japanese companies: Abe

Abe said it was "better for the world" for Britain to stay in the European Union/AFP

Abe said it was “better for the world” for Britain to stay in the European Union/AFP

London, United Kingdom, May 5 – Prime Minister Shinzo Abe on Thursday warned that Britain would become “less attractive” for Japanese investment if it votes to leave the European Union in a membership referendum in June.

“A vote to leave would make the UK less attractive as a destination for Japanese investment,” Abe said after talks with British counterpart David Cameron in Downing Street following visits to Germany and France.

“About 1,000 Japanese companies operate in the UK, employing 140,000 people… Many of the Japanese companies set up their operations in the UK precisely because the UK is a gateway to the EU,” he said.

Cameron said Japanese investment in Britain totalled £38 billion (48 billion euros, $55 billion) at the end of 2014 and had played a particularly important role in reviving the British car manufacturing industry.

Nissan Sunderland is Britain’s biggest car plant.

“Japan is a country that matters enormously to the prosperity of the UK,” Cameron said.

Abe said it was “better for the world” for Britain to stay in the European Union.

“Japan’s priority is negotiating trade deals with Europe, with the EU, a large trade area rather than individual states in Europe,” he added.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...