China ready to invest £100m in Scotland, says visitor Salmond

Published on Wednesday 7 July 2010 13:59

FIRST Minister Alex Salmond yesterday predicted that a trade mission he is leading in China could attract £100 million worth of investment into Scotland.

• Alex Salmond won assurances from Shuping Zhi on Scotch whisky branding while in Beijing. Picture: Complimentary

The Scotsman has learned that investment in key sectors such as financial services, tourism, renewable energy and textiles could start within the next year.

Mr Salmond has been involved in high-level talks with representatives from those sectors in China, where he is heading-up a trade delegation of Scottish Government officials, business leaders and tourism bosses.

He said the week-long mission, which has so far taken in visits to Shanghai and Beijing, had already benefited Scotland.

He said: "If you ask me to make an estimate on the three days in Shanghai, I'd be disappointed if there wasn't 100m of investment in the Scottish economy in the very near future.

"Not just as a result of this mission, but certainly this trade mission is accelerating that process."

Mr Salmond yesterday announced a co-operation agreement between Aberdeen-based SeaEnergy Renewables and state-owned Chinese manufacturer Nantong COSCO Ship Steel Structure Company (NCSC) to develop and market steel structures for Scotland's offshore wind industry.

He also launched a new Chinese language, golf-focused travel brochure promoting Scotland to wealthy tourists in China.

A spokesman for Mr Salmond said that there were other "substantial investment" opportunities involving Chinese firms putting money into Scotland, including some for next year.

He has held meetings with Chinese business leaders, which it is hoped will lead to some of the anticipated investment.

Scotland, said Mr Salmond, has an "incredible, strong brand" in China.

He added: "China has 1,400 million people, we have just over five million, but in terms of punching above our weight, China is an area of exceptional interest and understanding of Scotland and therefore it's a marketplace and a potential investor of huge significance."

Meanwhile, Mr Salmond welcomed a commitment from the Chinese Government to introduce greater legal protection for Scotch whisky.

Mr Salmond said he had received the pledge during a meeting with Shuping Zhi, deputy minister for general administration of quality supervision, inspection and quarantine (AQSIQ).

The First Minister said he received assurances there would be additional legal protection against imitations, ensuring all products labelled as Scotch must come from Scotland.

He said: "Mr Zhi has reassured me this important legal protection for one of Scotland's premium global exports will be introduced shortly, helping to further increase exports and secure jobs."

Scotch Whisky Association chief executive Gavin Hewitt added: "The Chinese Government's commitment to protecting Scotch Whisky and consumers from imitations is welcome."

Meanwhile, the Scottish Government-led delegation is set to visit the Chinese port town of Tianjin today, where Edinburgh-based Standard Life has an office before returning to Beijing tomorrow for the last day when Mr Salmond will speak at a chamber of commerce event.

LOBBY FORCE

Amongst the companies represented by the Scottish delegations are:

Anniesland College; Bruichladdich Distillery Co Ltd; Craigie Engineering Sales & Services Ltd; Alex Begg & Company; Replin; Mackintosh; Tartan Spirit; J&D Wilkie; Edinburgh's Telford College; Future Factory Ltd; Gentech Sensors; Glasgow Metropolitan College; HSBC plc; Integrated International Payroll Ltd; Keppie Design; Motherwell College; Omega Diagnostics; Origin Pet Products Ltd; Platinum Golf Associates; Spectraglass Ltd; The Environment Exchange; Wilson + Gunn Architects; Hotel Du Vin; Gretna Green Group; Executive Golf and Leisure; Wang Ping Travel and China Holidaysz