SCOTLAND IS OPEN FOR BUSINESS

May 31st 2017

Scottish Cities Alliance and Scottish Development International send a clear message to investors attending business breakfast at Scotland House, London.

Scotland is open for business – that’s the message delivered to an audience of investors and key decision makers at Scotland House in London today [May 31].

Launched by Cabinet Secretary for Finance and Constitution Derek Mackay, the event held in Scotland’s new innovation and investment hub, featured talks from a current investor as well as the people behind some of the country’s top potential investments including Clyde Gateway in Glasgow, International Business Gateway in Edinburgh and Dundee Waterfront development.

The latest EY Scotland Attractiveness Survey showed for the fifth year in a row that Scotland is second only to London as the most popular part of the UK to invest in.

Mr Mackay said: “Building on our previous successes, we have attracted more investment projects than ever before – with 2016 results up 2.5% on the record achievements of 2015 – and more research and development projects than any other part of the UK including London.

“Scotland is open for investment opportunities; our Infrastructure Investment Plan supports projects valued at more than £6.4 billion including creating a digital infrastructure for 100% superfast broadband access for all of Scotland and a £1.8 billion Schools for the Future Building Programme. We are investing in Scotland’s cities and regions through City Deals, including a £1 billion investment for the Glasgow City Region - the second largest City Deal in the UK.

“We enjoy resources few nations can match, including world class universities, one of the most highly – educated work forces in Europe, competitive tax policies, a long standing reputation for innovation and a strong international brand. These assets continue to attract investors to Scotland in what is an increasingly competitive global field.”

This targeted investor event aims to build on this success and take Scotland’s top propositions to one of our key markets with a huge international reach. Held in collaboration with Scottish Development International (SDI), the international arm of Scotland’s enterprise agencies, and the Scottish Cities Alliance, which is the seven cities and Scottish Government working together to boost economic growth, the aim is to take a Team Scotland approach to identify and engage with potential investors.

With more than 2,300 foreign-owned companies employing 314,000 staff and realising a combined turnover of £89 billion, Foreign Direct Investment plays a vital role in Scotland’s economy. This event aims to reinforce the message that Scotland has a variety of robust, investor ready propositions in a bid to attract new investment and boost our economy.

Director of City Development Dundee, Mike Galloway OBE, who spoke at the event about the city’s £1billion Dundee Waterfront development, said: “This has been an ideal platform from which to showcase the great investment potential at Dundee Waterfront directly to London-based investors. Scottish Development International and the Scottish Cities Alliance have helped to promote Dundee Waterfront’s opportunities out to the wider market. The development features the new, cutting-edge V&A Museum of Design which is scheduled to open next year along with a new railway station which is making the Waterfront one of the most attractive regeneration projects in the UK. Dundee City Council is the consenting authority and owns the primary investment opportunities around the V&A which includes great opportunities in mixed use, retail, hospitality and leisure sites.

“We already have several plots in negotiations with developers and are delighted with the high level of interest shown in the Waterfront.”

Jestyn Davies, Managing Director, Murray Estates, presented the high-level delegation with an overview of the £750 million project that will form the first important phase of Edinburgh’s strategic expansion to the west

He said: “Through this event organised by Scottish Development International and the Scottish Cities Alliance we have been given a platform to promote our investment to a high level audience. The International Business Gateway (IBG) is more than 105 hectares which extends to 232,000 square metres of high quality business space, served by Edinburgh’s tram network.

“Phase 1 of IBG has already been masterplanned and a planning application submitted for more than 100,000 square metres of business space, hotel accommodation for 1150 rooms and over 400 residential units, as well as retail and leisure space.

“This strategic development promises to transform the space to the west of the capital and bring in millions into the Scottish economy in jobs and investment at the same time.

“We are still actively seeking more investment for the next phase and events such as today’s only help to attract that.”

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