The targeted 500,000 jobs per year sought would have easily been met if the government helped create just 5000/businesses/year instead.
To do this, simply remove all barriers to forming businesses. Why should i not walk into a county council office in my district headquaters and come out with a certificate of formation of a new company? In fact, just like in the USA, why can i just not fill the paper work online, and have the certificate mailed to me in one week?
Why all the regulation? If it is fear of foreigners meddling/controlling our economy (whateer that means), why not subject foreigners to the red tape (bad idea) and let your citizens at least have the sweeter privilege of instant company formation?