British Treasury secures USD 10.4-bln investment from Amazon Web Services

Chancellor Rachel Reeves confirmed an eight billion Pound Sterling (USD 10.4 billion) investment from Amazon Web Services, which is estimated to support thousands of jobs across the UK Treasury statement said The Chancellor secured the planned five-year investment last week at a meeting with Amazon Web Services. The investment is estimated to support around 14,000 jobs per year at local businesses, including those across the company's data center supply chain such as construction, facility maintenance, engineering and telecommunications, as well as well as other jobs within the broader local economy. AWS estimates that these investments in the UK will contribute 14 billion Pound Sterling (USD 18.3 billion) to the UK's total Gross Domestic Product (GDP) from 2024 to 2028. Today's investment announcement comes ahead of this year's UK International Investment Summit on October 14, where the UK will bring together the world's most important companies and investors, demonstrating how the UK's offer is the best in the world, with political and economic stability, a strategic government partnering with businesses, a proper trade strategy, and policies designed to enable growth. Source: Kuwait News Agency