Scotland is open for business. We have phenomenal talent, abundant natural resources and a world-renowned reputation for innovation on which to capitalise.
Many of the world’s most dynamic markets benefit from Scottish contribution. For example, more than 10% of Scotland’s international exports, excluding oil and gas, go to Asia.
But why shouldn’t we aim for more? Scotland’s exports are world class. And we have a great track record of attracting inward investment as the top UK destination outside of London for nine straight years.
Japanese firm Sumitomo’s recent £350 million investment in Scotland demonstrates this perfectly. Such a massive investment from a single company shows the scale of opportunity before us.
Securing inward investment like this does not happen overnight. It involves many months of discussions involving Scottish Ministers, our economic agencies and Scottish Development International. We take a truly “Team Scotland” approach to securing investment like this.
Asia has some of the most dynamic sectors in the world and Scotland’s leading reputation for life sciences, food and drink, technology and innovation means we are primed and ready to tap into them.
I have appointed Scotland’s first Trade Envoy to Japan, Stephen Baker, to help us do so. Japan has a substantial economy and there is significant opportunity to maximise trade and investment, making the nation a perfect global partner for Scotland.
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I am going on a trade mission to Singapore and Malaysia where I’ll showcase Scotland’s renewable energy capabilities at Singapore International Energy Week and will meet the Malaysian Space Agency to discuss further opportunities for collaboration.
And I’ll be supporting Scottish tech startups find new customers and investors through our Techscaler programme.
This is a hugely exciting development. Funded by the Scottish Government, it facilitates engagement between potential new major customers, investors and Scottish entrepreneurs.
It has already helped business founders in Scotland secure millions of pounds in investment from some of the world’s most exciting tech start up economies, such as Silicon Valley.
The world is quickly changing. Such change brings risks, economic uncertainty and, at times, instability.
But change also presents opportunity. Scotland has the talent, the resources and a second-to-none reputation for innovation and ingenuity with which to grow our international presence, increase trade and export opportunities, and maximise the benefits of a changing world.
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