Rishi Sunak says a new defence partnership will see closer co-operation between the armed forces.
About £10bn of the investment is coming from trading and investment business conglomerate Marubeni and is earmarked for offshore wind and green hydrogen projects in Scotland and Wales.
The announcement came as Mr Sunak hosted a reception in Tokyo highlighting the strength of the UK and Japan's economic relationship ahead of the UK joining the regional CPTPP trade bloc . Aside from energy, two of Japan's largest real estate companies, Mitsubishi Estate and Mitsui Fudosan, confirmed £3.5bn for affordable housing, office space and a life-science laboratory in London.Octopus Energy is set to invest £1.5bn in the Asia-Pacific energy market by 2027, to "speed up the region's transition to a cleaner, smarter energy system", creating 1,000 jobs in the UK.
The silicon microchips, used to produce supercomputers and AI technology, are hugely important to modern economies and there has been concern about depending on China for their production. During the gathering, Mr Sunak will hold bilateral talks with France's Emmanuel Macron and India's Narendra Modi.
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