For the second time in four years, Scotland has been named European Region of the Future by the Financial Times fDi (Foreign Direct Investment) Magazine. Recent high-profile investments by companies such as Wyeth, Morgan Stanley and JP Morgan were highlighted in the publication.

Of the numerous categories by which prospective regions were judged, Scotland, which is also currently the UK Region of the Future 2007, scored highest in economic performance, overall FDI promotion strategy, quality of life, transport links, IT & telecommunications and human resources. The latter is an area for which Scotland already holds an award as being the best region in Europe.

Ambitious development plans, such as those on the River Clyde, the Edinburgh BioQuarter and the digital media park at Seabraes Yard in Dundee also caught the judges’ eyes as did the continued investment of the country’s universities.

The business-friendly nature of Scotland, and Glasgow and Edinburgh in particular, was noted, alongside the fact that over 1,500 foreign-owned companies have set up and registered in the country.

Enterprise Minister Jim Mather said the award demonstrated the “huge economic potential” throughout the country. He added that the Scottish Government was working to make Scotland an “even more attractive place to invest”.

Lena Wilson, Chief Operating Officer at Scottish Enterprise, said: “This is a tremendous result for everyone who works so hard to promote Scotland internationally, particularly my colleagues in Scottish Development International for their success in attracting investment to Scotland year on year.”