However, Kevin Hollinrake, the shadow business secretary, said DP World’s reversal was a damning indictment of the Government’s performance so far.
He said: “On the eve of this much vaunted inward investment event, this is a body blow for the Government and shows that Labour Cabinet ministers have never been in business, don’t understand business and don’t know how to talk to business. They just haven’t got a clue.
“Just 100 days in, new investment should be rolling in, not being scared off because of anti-business statements or worries about the impact of Labour’s employment and tax policies.”
The summit in the City of London is due to be attended by hundreds of business chiefs, including representatives of private equity and sovereign wealth funds, and aims to raise billions of pounds in financing.
A government official said they believed the matter was still under discussion with DP World.
Representatives for Ms Haigh and Ms Rayner did not respond to requests for comment.
DP World’s investment in London Gateway would have created two new berths for deep-sea vessels, increasing the port’s capacity by 50pc and adding hundreds of jobs.
This would have aided the expansion of Britain’s trade links, which is viewed as a key component of the Government’s plans to grow the economy and tap global markets following Brexit.
Britain is hoping to strike a free trade deal with the Gulf Cooperation Council, which includes the United Arab Emirates.
The UAE has also pledged to invest £15bn in areas including life sciences and energy, with a state-owned Emirati fund among the frontrunners to help fund the Sizewell C nuclear power station.
