The number of inward investment projects in Scotland reached a five-year high in the latest year despite the gloomy global economic outlook, but the levels nevertheless remain well below those recorded at the turn of the decade.

The number of inward investment projects in Scotland reached a five-year high in the latest year despite the gloomy global economic outlook, but the levels nevertheless remain well below those recorded at the turn of the decade.

Figures compiled by Scottish Development International (SDI) show the agency helped to bring 69 investments into Scotland in the year to March, up from 59 the preceding year.

The number was the highest since 2003-04 when there were 65 investments, but the total value of the proposed investments fell by 7.5%, to £290m.

Any disappointment at the fall in value may be tempered by the fact that the funding should lead to the creation, or safeguard, of 2638 high-value jobs compared with an average of 1804 in the last five years.

Investors expect to create or safeguard 6715 jobs, compared with an average of 6161 in the last five years.

However, the performance trails well below the results achieved in 1999/2000 when the former Locate in Scotland helped to attract 91 investments with a total value of £650m, which promised to safeguard or create 19,000 jobs.

SDI was without a chief executive for much of the last year following the resignation of Martin Togneri last May.

He was replaced last month by Lena Wilson, who will combine the job with the role of chief operating officer of Scottish Enterprise.