The launch of a ‘bold and ambitious’ initiative to attract more than £30bn worth of overseas investment to the UK has been announced by the Department for International Trade (DIT) – the initiative could give a welcome boost to many projects across Yorkshire.

Initially, DIT is promoting 68 schemes across the country, with more likely to be added during the year.

Five of these are in the Yorkshire:

• Sirius Minerals Polyhalite Project, North Yorkshire & Teesside, £2.9bn
• York Central, York, £750m
• Axiom Regional Shopping Centre, Wakefield, £400m
• Aero Centre Yorkshire, Doncaster, £100m
• Unity Doncaster, Doncaster, £100m

Another initiative, the High Potential Opportunities scheme, is also set to be extended following a successful pilot in Doncaster's rail industry, Telford's agri-tech sector and Greater Manchester's Graphene-based lightweight materials sector.

Dr Liam Fox, international trade secretary said: "This is a bold and ambitious programme, building on the UK's position as the leading destination for foreign investment in Europe through the government's Industrial Strategy, helping to build a Britain fit for the future.

"The High Potential Opportunities scheme will deliver growth where it is most needed, ensuring that the benefits of global investment are felt in every part of the country. And with more than £30bn worth of new opportunities, my international economic department's overseas network is working hard to attract top investors to the UK."

Carolyn Fairbairn, CBI director-general, added: "The UK has a strong standing when it comes to attracting investment to these shores. That investment leads to real, tangible benefits for people and communities – more jobs, prosperity and choice.

"The International Trade Department’s drive to attract billions of pounds worth of investment to projects in each corner of the country is warmly welcomed by firms."