Board of Trade comes to Scotland
Scottish Secretary David Mundell joins President of the Board of Trade Dr Liam Fox at the first Board of Trade held in Scotland
UK Space
鈥� Scottish Secretary joins President of the Board of Trade Dr Liam Fox at the first Board of Trade held in Scotland
鈥� As the Board of Trade meets in Stirling, International Trade Secretary Dr Liam Fox recognises the exceptional international trading performance of six Scottish companies with Board of Trade Awards (BOFTAs).
鈥� Dr Liam Fox launches a new drive to attract more than 拢2 billion of investment to Scottish companies, part of 68 projects across the UK being promoted.
鈥� Part of the modern Industrial Strategy, setting out how the government is building a Britain fit for the future 鈥� helping businesses create better, higher-paying jobs in every part of the UK.
鈥� Online one stop shop launched to help global investors find UK projects.
Scottish Secretary David Mundell will today (Thursday 17 May) join International Trade Secretary Dr Liam Fox to launch a new drive to attract foreign investment into the UK at a meeting of the Board of Trade in Stirling.
Mr David Mundell said:
鈥淪cotland is already an exporting success story, and we know that quality products like Scotch and salmon are in demand across the globe. But there are opportunities for even more Scottish businesses to their export goods and services. The UK Government is helping boost exports, attract inward investors and ensure the benefits of free trade are spread across the whole of the UK. I am pleased to welcome the Board of Trade to Scotland today.鈥�
The Department for International Trade (DIT) is promoting 68 UK investment projects worth more than 拢30 billion to overseas investors. This includes more than 拢2 billion worth of projects in Scotland, including the Waterfront in Dundee, and Queen鈥檚 Square in Aberdeen.
Dr Fox and Mr Mundell will also announce the winners of the BOFTAs. Six Scottish companies are being recognised for their excellence in international trade, demonstrating innovation, creativity and entrepreneurialism.
The BOFTA winners are: world-leading bus and coach manufacturers Alexander Dennis in Falkirk; Speyside Distillery; Aberdeen oil and gas company EnerQuip; Glasgow-based plastics suppliers McGavigan; Bowalds Energy in Aberdeen; and Glasgow-based power generation company Aggreko.
Dr Fox will also extend the highly successful High Potential Opportunities scheme, piloted in Doncaster鈥檚 rail industry, Telford鈥檚 agri-tech sector, and Greater Manchester鈥檚 innovative Graphene-based lightweight materials sector to new industries and parts of the UK.
Dr Liam Fox, International Trade Secretary and President of the Board of Trade said:
鈥淭his is a bold and ambitious programme, building on the UK鈥檚 position as the leading destination for foreign investment in Europe through the government鈥檚 Industrial Strategy, helping to build a Britain fit for the future.
鈥淭he High Potential Opportunities scheme will deliver growth where it is most needed, ensuring that the benefits of global investment are felt in every part of the country.
鈥淎nd with more than 拢30 billion worth of new opportunities, my international economic department鈥檚 overseas network is working hard to attract top investors to the UK.鈥�
DIT works directly with companies in 177 cities in 108 countries around the world. Last year, DIT helped attract 2,265 investment projects which created or safeguarded 108,000 jobs in the UK.
Carolyn Fairbairn, CBI Director-General, said:
鈥淭he UK has a strong standing when it comes to attracting investment to these shores. That investment leads to real, tangible benefits for people and communities 鈥� more jobs, prosperity and choice.
鈥淭he International Trade Department鈥檚 drive to attract billions of pounds worth of investment to projects in each corner of the country is warmly welcomed by firms.
鈥淭he new online catalogue of British projects for global investors to find and research will also be a vital tool to attracting even more capital to the UK, enabling the benefits of free trade and investment to flow into our communities.鈥�
The 68 projects are worth more than 拢30 billion, with more to be added over the coming months. They will also be promoted through a revamped online one-stop-shop for potential investors - invest.great.gov.uk.
The extended High Potential Opportunities scheme is now taking applications from business organisations, Local Enterprise Partnerships and councils from across Scotland, England, Wales and Northern Ireland. In the first phase, more than 20 new sectors and areas of the UK will benefit from a boost in investment 鈥� creating new jobs and securing the UK鈥檚 prosperity.
Through the Industrial Strategy, the UK Government is setting out a long-term plan to boost the productivity and earning power of people throughout the UK. It sets out how the UK Government is building a Britain fit for the future 鈥� helping businesses create better, higher-paying jobs in every part of the UK with investment in skills, industries and infrastructure.
Details of the projects being promoted by Department for International Trade in Scotland:
- Dundee Waterfront, Dundee, 拢500 million
- Buchanan Wharf, Glasgow, 拢350 million
- Magenta, Glasgow, 拢280 million
- AMIDS, Renfrewshire, 拢244 million
- Edinburgh International Business Gateway, Edinburgh, 拢185 million
- Queen鈥檚 Square, Aberdeen, 拢150 million
- Bothwell Street, Glasgow, 拢140 million
- George Street Complex, Glasgow, 拢100 million
- Perth West, Perth, 拢100 million