Amazon announced its plan to invest £40 billion ($54 billion) in the United Kingdom over the next three years, possibly boosting the nation’s domestic growth and productivity.
The e-commerce titan stated that it plans to build four new fulfillment centers, open two new buildings in East London, improve its transportation infrastructure nationwide, and redevelop Bray Film Studios, which the company acquired last year.
The U.K. has been aiming to make a recovery after the U.S. President Donald Trump’s trade tariffs and domestic tax shrank the nation’s monthly GDP by 0.3% in April. Amazon stated that the two fulfillment centers in Hull and Northampton would add about 2,000 jobs each.
Last year, Amazon also announced its five years plan worth £8 billion to build and operate data centers in the U.K. Besides the e-commerce titan, TikTok also stated its plans to open a new office in London, covering the area of 135,000-square-foot. Nvidia CEO Jensen Huang also expressed his interest to invest in the island nation as well.
Still, there may be some difficulty such as the tax hikes that Finance Minister Rachel Reeves introduced. Several tech entrepreneurs criticize the act as it presents an unwelcome environment for high-growth startups.
