The U.K. government created an investment council, including representatives from sovereign wealth funds and pension funds, to advise on how to improve and enhance the U.K.'s business environment for foreign investors.
Other members of advisory board represent the technology, energy and infrastructure sectors.
Led by Minister for Investment Gerry Grimstone, the council will meet twice a year and on an ad hoc basis to give the Department for International Trade and the wider government high-level strategic advice.
Board members will share their experiences of the U.K. market and views on the U.K.'s competitiveness. They will also advise on policy and regulatory changes that could improve the U.K.'s attractiveness as a destination for foreign investment.
"The aim of the council will be to drive investment into priority areas and sectors, leveling up the whole of the U.K. through an investment-led recovery," a news release on the government's website said.
"The investment council will deliver the expertise of influential global investors right to the heart of government, offering invaluable private-sector insight on how we can make the U.K. the best place to invest as we build back better, and stronger, from COVID-19," Mr. Grimstone said in the release.
Council members are unpaid and were selected in accordance with guidance from the Cabinet Office.
Among the advisory board members are Alain Carrier, senior managing director and head of international and Europe at Canada Pension Plan Investment Board, Toronto, which ran a C$475.7 billion ($372.1 billion) fund as of Dec. 31; Chow Kiat Lim, CEO at the more than $400 billion GIC, Singapore; and Waleed Al Mokarrab Al Muhairi, deputy group CEO at the $232.2 billion Mubadala Investment Co., Abu Dhabi.
