Sheffield City to head off on investment mission to Singapore
A delegation of local business leaders and members of the Sheffield City Region (SCR) Inward Investment team will travel to Singapore.
They will promote the region’s excellence in advanced manufacturing, particularly in the aerospace, oil and gas sectors for which Singapore is the most important market hub in Asia.
The mission is timed to coincide with the Singapore Air Show to explore export opportunities in the sector capitalising on the City Region’s strength in manufacturing aerospace components whilst selling the region as an inward investment proposition.
William Beckett, Chairman of the South Yorkshire International Trade Forum (SYITF) and trade delegation lead said: “A major development in the City Region has been the willingness of all the different trade support organisations to work together with the agreed aim of promoting the skills and expertise in the region and to focus on target market sectors having the greatest export growth potential.
“Singapore was identified as a perfect example of this strategy and in March last year I went there on behalf of the SYITF to explore the opportunities for both export trade and inward investment specifically in the aerospace, oil and gas sectors.
“Having subsequently conducted a significant market research exercise in mapping Singapore companies in these sectors, we are now able to match them with companies in the SCR.
“Companies on the mission will benefit from having this information, which will give them an excellent opportunity to increase their export trade to the region.
“Our thanks must go to Martin McKervey at Nabarro for supporting us on this mission and for hosting a business reception at their impressive Marina Bay Singapore offices at which target potential customers will be invited. “
David Grey MBE and Local Enterprise Partnership (LEP) Board member overseeing Inward Investment commented:
“The Singapore Airshow attracts decision makers in the aerospace sector, and we will hold pre-arranged meetings with companies who have expansion plans and are looking at the UK as a European base.
“The ability of the AMRC to design systems in order to machine aerospace components far faster and cheaper than is possible through traditional methods, has attracted world-wide attention.
“We want to capitalise on that and encourage companies to make the move and set up here, near that valued talent pool.
“The supply chain for the aerospace sector is well served by this City Region, and this is an added attraction to potential investors.
“The Inward Investment team will be making that compelling case in Singapore.”
Martin McKervey, Partner at Nabarro and SCR LEP sector group chairman for Property and Construction added: “Never has it been more important for our world class manufacturing firms to seek global orders.”
“Singapore represents a great opportunity for advanced manufacturing businesses from the Sheffield City Region to explore new markets and investment.
“We already work seamlessly with our Singapore office to advise clients seeking to export to the ASEAN region and are delighted to be hosting this timely trade mission.”
Companies travelling to Singapore include Beckett MIM, William Beckett Plastics, Durham Duplex, Macalloy, Pryor Marking Technology, Straaltechniek, Lidster Paragon Tool Co. Ltd, YBROS Drills (Sheffield Ltd), New Era Acquaculture and Numill (Ltd).
The LEP is currently working on a Growth Plan which asks Government to devolve funds and powers to the City Region with the aim of accelerating economic growth and job creation by 2023.
A significant part of the LEP’s Growth Plan focuses on increasing inward investment from around the world with incentives and promotional activity, with the aim of attracting 20,000 new jobs to the City Region by 2023. To find out more visit www.sheffieldcityregion.org.uk