Northern Powerhouse looks east for investment

29 Jul 15

Delegations from three local authorities in the north of England have joined Prime Minister David Cameron on a trade mission to Singapore and Malaysia in an effort to boost investment in the government’s Northern Powerhouse plans.

Delegations from Greater Manchester Combined Authority, Manchester City Council and Leeds City Council have joined Cameron on the trip in an effort to boost inward investment in the North of England. The visit forms part of the plans set out by Chancellor George Osborne to boost the economies of the region through infrastructure investment and devolution.

The sovereign wealth fund of Singapore is likely to be one of the main targets of the British contingent, which also includes 62 companies from the North that are exploring business opportunities in South East Asia.

“The government is committed to ensuring the UK’s northern regions play their part in rebalancing our economy,” Cameron said.

“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.”

Other members of the trade delegation include the universities of Bolton, Central Lancashire, Nottingham, Salford and Sheffield, Transport for Greater Manchester and the Green Investment Bank.

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