The northwest is one of the UK's leading regions for foreign direct investment (FDI), according to new figures from UK Trade and Investment.

Over 150 investment projects in the region were secured in 2007-08, which is an increase of 18 projects on the previous year and an increase of 64 projects on 2004-05.

More than 14,500 jobs were either saved or created in 2007-08, twice as many as in the preceding period.

This equates to over 280 jobs a week and 13 inward investment projects a month.

Steven Broomhead, NWDA chief executive, said: "These figures are a real lift from recent stories surrounding the slowdown of the global economy and the financial credit crunch."

According to a report by the NWDA, nearly a fifth of the northwest's gross value added is comes from foreign-owned companies operating in the region.

Across the UK as a whole, a record 1,573 investment projects were won last year, which is the fifth consecutive year of growth.