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Foreign Funds to Fuel N.Powerhouse

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Prime Minister David Cameron and Business Secretary Sajid Javid with the memebers of the trade mission from the North

Cameron and Javid lead the first Northern Powerhouse trade mission, which includes 62 companies from the region, to Singapore and Malaysia….reports Asian Lite News

Prime Minister David Cameron and Business Secretary Sajid Javid with the  memebers of the trade mission from the North
Prime Minister David Cameron and Business Secretary Sajid Javid with the memebers of the trade mission from the North

Prime Minister David Cameron and Business Secretary Sajid Javid led the first Northern Powerhouse trade mission, taking 62 northern companies to Singapore and Malaysia, underlining the government’s commitment to the creation of a Northern Powerhouse.

The delegation represents a total turnover in excess of £10 billion, with a combined workforce of over 50,000. The trip comes as Malaysian investor Petra Group announced that 90 highly skilled jobs will be created in the North following an investment in the region of £12 million. The company plans to develop a rubber recycling manufacturing facility using their patented technology to produce Green Rubber.

Cameron said: The government is committed to ensuring the UK’s northern regions play their part in rebalancing our economy. With so much untapped potential, I’m delighted to be part of this first Northern Powerhouse trade mission – the first of what I hope will be many.

Petra Group’s announcement that it will open its pioneering manufacturing to the North East of England, creating up to 90 jobs, is testament to the skills and expertise the North East has to offer.

Business Secretary Sajid Javid said: Our long-term economic plan seeks to rebalance growth across the regions and nations of the UK, and building a Northern Powerhouse will be a key part of this. This mission – the first of its kind – will demonstrate the strength of the northern regions, which are home to some of the most innovative companies and institutions in the world.

Aiming to rebalance the economy and attract overseas investment, the Prime Minister and Business Secretary are leading the charge in establishing the North as a global powerhouse. Also in South East Asia are: the Minister for Trade and Investment, Lord Maude, and Minister for Small Business, Industry and Enterprise, Anna Soubry.

The Northern Powerhouse is also celebrating successes and business wins including:

Manchester-based SME FutureEverything has won a contract from the Singapore Government worth £500,000, which will see it explore the Smart Nation through digital culture, developing a Smart Nation Innovation Lab and conference

Cheshire-based Cambridge Dream, which runs international ‘Leadership and University Preparation’ summer schools at Cambridge University, has signed a memorandum of understanding with Malaysia-based Brighton Education Group; the 2 education organisations will work together on projects to equip young people across ASEAN with the knowledge and skills to realise their academic and career aspirations

Vehicle Barrier specialists ATG Access, which has a major presence at airports throughout South East Asia and has recently created the world’s first impact tested column protector, which will be used to protect supporting walk way tunnel columns within international airports

Cheshire based Delamere Dairy, which recently featured in the Sunday Times SME Export Track 100 and has been supplying products to Singapore for over 10 years and Malaysia for 3 years

Vernacare, designs and produces a single-use, human waste management system that reduces the risk of infection within the healthcare sector. Vernacare’s single-use system is used in 94% of UK hospitals and in over 48 countries. With the assistance of UK Trade and Investment the company has recently begun exporting to Singapore, capturing around 24% of their hospital market.

The University of Sheffield is receiving £4 million investment from the Engineering and Physical Sciences Research Council (EPSRC) to build one of the largest dynamic test facilities in the UK. The new £4 million grant takes the total current investment in the facility to £11 million.

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