Member Article

Siemens calls for IFB to springboard inward investment boom

Global engineering company Siemens is to use its sponsorship of the inaugural International Festival for Business to call for more international investment in manufacturing, R&D and UK skills.

Siemens will also be seeking support to have the Alan Turing Institute developed in the North West as well as calling for greater regional connectivity so that the North West can become a true global export hub - powering a balanced and long term economic recovery across Britain.

Named after World War II code-breaker and computer pioneer, Alan Turing, the establishment of the institute was announced by Chancellor George Osborne in the 2014 Budget on March 19.

With £42m of central government support for its first five years of operation, the Institute will focus on analysing ways of collecting and organising large sets of data: or ‘Big Data’ as it is termed. Siemens will be calling for the acceleration of this investment so that the UK can lead the global charge in what is being called Industry 4.0 a digital manufacturing revolution, a drive to re-shore more manufacturing through investing in advanced technology.

Its announcement comes just days after the North West Business Leadership Team (NWBLT) published a report titled Exploiting the Excellence which highlighted the business case for manufacturing and R&D investment in the North West.

Siemens alongside EEF, the voice of British manufacturing, will be sponsoring the Manufacturing, Science and Technology Week starting June 23rd.

Juergen Maier, NWBLT Chair and MD of Siemens Industry UK, said: “This summer Britain has a once in a generation opportunity to reach out globally using IFB 2014 as a perfect platform to make the case for a renewed investment in the UK, especially in the north. Consumers have been driving the recovery so far - now it’s time for business investment. Let IFB be the start of a renewed inward investment drive.

“The UK is highly competitive and an innovative market place which is already delivering world-class research, but much more can be achieved. Just look at what we have accomplished in Hull, announcing a £160m investment, creating 1000 jobs in wind turbine production. Together we can deliver even more of this type of growth.

“There are so many reasons why the UK should benefit from investment and this is a huge opportunity to get that message out to an international audience. It will be confidence booster for business up and down the UK.”

Taking place in June and July, IFB will be the biggest business event of 2014 and comprises more than 200 events. It forms a central part of the UK Government’s goal of rebalancing the economy and doubling British exports by 2020.

Set to attract tens of thousands of visitors from across the world, the festival will feature 50 days of events and exhibitions to help realise the potential of global economic growth.

Max Steinberg CBE, chair of IFB 2014, said: “Providing the opportunity for businesses to meet, network and lobby is a key element of what makes IFB so important to the region and to the UK. It will bring the world to our doorstep. Visitors are coming to listen, learn and to do business across the North West and Siemens’ involvement brings a powerful voice to the festival.”

IFB 2014 begins on June 9th with the British Business Embassy at St George’s Hall, Liverpool which will showcase great British industries and sectors.

This was posted in Bdaily's Members' News section by Simon Malia .