Chancellor Philip Hammond has acknowledged that Brexit uncertainty may cause firms to delay investment.
But Mr Hammond said for many foreign firms the UK had become a "buying opportunity", partly due to the fall in the pound since the referendum.
The chancellor added that the UK economy had been resilient in 2016, "confounding many sceptics".
He was speaking at the World Economic Forum in Davos on how the UK would handle Brexit.
Some companies are delaying investment decisions, and waiting "to have a better understanding what the future looks like", he said.
"But other businesses that are not so dependent on access to European market, on trade barriers have continued to invest," he said.
Pointing to investments by Google, Apple and Japan's Softbank, he said: "The UK is now seen as a buying opportunity because of the depreciation of the currency and the fact that fundamentally we are still a large market with 65 million affluent consumers."
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