London Economic Development Strategy

The Mayor of London, Sadiq Khan, has launched on 13 December 2017 his new Economic Development Strategy as a draft for consultation. This draft is open for discussion for three months until 13 March 2018. The Mayor is “keen for London to remain the best place to do business, but wants to put more emphasis on the general wellbeing, health and happiness of Londoners”. He invites Londoners and other informed stakeholders to tell him what they think of his plans.

His website at https://www.london.gov.uk includes a survey and discussion forums on

  • Would you like to be involved in the development of new technology?
  • How can technology be used to make London a better city to live in?
  • What sectors do you think are most important to London’s economy and why?
  • What do you think the risks are to London’s economy in the coming years?
  • What do businesses need to thrive in London? What are the challenges they face?
  • What do you think of the idea of having a Good Work Standard in London?
  • How able do you feel to achieve your career goals in London?

Unveiling his draft Economic Development Strategy at the Federation of Small Business’ Winter Reception, Sadiq Khan explained how he wants to build on his manifesto pledge to be London’s most pro-business Mayor ever, create an economy that delivers for everyone and leaves none of London’s communities behind. It also sets out measures to address the fact that although London is one of the richest cities in the world, the city is home to some of the poorest neighbourhoods in the country.

Innovative Solutions

He has also challenged tech start-ups and medium-sized businesses to develop innovative solutions that will help address some of the big issues facing London and Londoners – from inequality to air quality and the health challenges of an ageing population.  Using funding from the London Economic Action Partnership (LEAP), 15 companies will initially be selected to receive targeted business support with up to three of them receiving £15,000 to further develop their ideas. The Mayor will set out the exact terms of this initiative, known as the Mayor’s Civic Innovation Challenge, next year.

The overarching goal of the Mayor’s Economic Development Strategy is to boost competitiveness and create a business environment that is not only friendly – in terms of helping investment and growth – but also fair, where all companies play by the rules and where all Londoners stand to benefit.

By channelling investment into key areas, equipping Londoners with the skills, education and training they need to participate in the modern economy, and by investing in infrastructure and offering targeted support to certain sectors – such as tech, life-sciences, and the capital’s creative industries – the Mayor believes he can deliver on this vision at the same time as helping London’s businesses go from strength-to-strength.

Source: Mayor’s Website

Image source: City A. M.

London ranks first in GDP among UK top level territories, and is positioned at the 5×1 slot within the G8x8. In 2015, it achieved a GDP of 378.4 billion £ (507.1 billion $) and a share of 22.7 percent of the national total. Its GDP was slightly lower than that of Sweden.

Karnataka – Sichuan Cooperation

Chief Minister Siddaramaiah of the State of Karnataka, India, inaugurated the 6th China-India Forum on 10 November 2017 in Bengaluru. The meeting was jointly hosted by the Government of Karnataka, the Chinese People’s Association for Friendship with Foreign Countries (CPAFFC), the China-India Friendship Association (CIFA), and Podar Enterprise. Semiconductor Alliance of China and Beijing Construction & Highway Development Group presented EoI letters to the Karnataka government. Forum slogan was “Innovation – Building Strong and Harmonious Future Together – Promoting Beautiful China & Wonderful India.”

Karnataka had signed a Sister-State-Province agreement with the Provincial Government of  Sichuan of the People’s Republic of China in May 2015, during the Forum of Leaders of the Regions of India and China in Beijing, and with participation of Indian Prime Minister Narendra Modi and Chinese Premier Li Keqiang. At the China-India Forum 2017, however, other provinces of China were also invited. Podar Enterprise signed a strategic cooperation MoU with Hebei Provincial Government. Podar Advisory and Consulting Enterprise signed tri-party MoU of cooperation with Baoding City Government and Hebei Information Investment Group. Fortune Plus, China, signed MoU for setting up electric vehicle hub with Imperator Autocorp Pvt Ltd. Podar Holding International Pte Ltd signed MoU for cooperation in education with Yingcai University in Jinan, Shandong province.

All Chinese Investors Welcome

Chief Minister Siddaramaiah invited Chinese investors, saying the state is ready to receive them with open arms and promised the speedy implementation of projects. “India’s exports to China touched USD 8.86 billion, whereas China’s exports were USD 61.54 billion. I urge investors from China to invest in Karnataka,” he said at the inauguration of the 6th India-China Forum here.  India-China bilateral trade also had reached USD 70.4 billion in 2015, he added. “We will do everything possible to enable seamless conduct of business, with total transparency and with the assurance that your projects will be speedily implemented,” he said.

Karnataka government will continue to actively engage with China and explore all possible avenues to make them its valued partners in building of a strong and prosperous state, Siddaramaiah said. “It is just the beginning of identifying synergies in  technologies which would strengthen and deepen the foundation  of a Future-oriented Partnership between India and China and  Karnataka and China, evolving business ties, particularly in  defence, energy, infrastructure, agriculture and food processing, Information Technology and environment, to name a few,” he said.

Siddaramaiah said Karnataka’s Industrial Policy for 2014-19 was manufacturing centric with a vision is to make the state an innovative and hi-tech manufacturing hub of India. He said India and China’s relations had undergone an evolution in recent years developing along a positive track, into a friendly partnership. “It has made great strides in recent years and has become truly multi-dimensional, spurred by a significant convergence  of interests, mutual goodwill and high-level exchanges,” he  added.

Sources: The Deccan Chronicle, The Hindu BusinessLine

Image source: NDTV

Karnataka and Sichuan are both G8x8 territories. The former is ranking fourth in GDP among Indian states, placing it at the 7×4 position. Sichuan ranks sixth among Chinese provinces to take the 2×6 field on the board. In 2016, Karnataka took a share of 7.4% of the India total GDP. Sichuan posted a GDP share of 4.2 percent of the China national total.

Texas Tops US Exports

Texas has been the top exporting state in the USA for 14 consecutive years. With over $251 billion in exports for 2015, this state continues to be the USA leader in international trade. It combines the following advantages:

  • a strategic location
  • the largest US rail and road infrastructure
  • the most US ports of entry
  • a multilingual workforce twice the national average
  • a vibrant international banking center
  • a diplomatic hub with a Consular Corps representing some 90 nations
  • and a concentration of corporate and financial resources

Many international firms base facilities such as warehousing, distribution, and manufacturing here to take advantage of excellent access to global markets.

From Texas, small, medium, and large businesses alike have found great success in doing business globally. Far from being the exclusive domain of large corporations, export trade here is driven by its most innovate, nimble, and oftentimes small firms. In fact, more than 90 percent of exporters are small businesses – and their numbers continue to grow. With its extensive global ties, Texas has a natural advantage in exporting knowledge-intensive services. It has become a major global exporter of high value-added services, including

  • accounting
  • communications
  • consulting
  • engineering
  • financial services
  • legal services
  • medical services
  • transportation services

With the slogan “Go Big in Texas”, the Department of Business Assistance (DBA) serves businesses and communities. It works to strengthen their competitiveness by promoting international trade, foreign direct investment, business retention and expansion. It also provides small business advocacy and entrepreneurial support. See their website at https://businessintexas.com/. For an overview of Texas trade and foreign direct investment, see especially this 2016 Report.

Image source: Texas Department of Business Assistance.

In terms of GDP, Texas ranks 2nd in the USA after California, contributing 8.8 percent to the national GDP of the United States. The “Lone Star State” occupies the 1×2 field of the G8x8 chess board. 2016 GDP stood at $1,616.8 billion, which was more than the national GDP of Canada or Russia.

 

Côte d’Azur Innovation

Since April 2014, the Regional Agency for Innovation and Internationalization of Companies Provence-Alpes-Cote d’Azur (ARII PACA) is the agency in charge of economic development, attractiveness and innovation in that French region.

It provides assistance to facilitate the emergence, acceleration and deployment of structuring projects and  high-potential business growth.

The ARII website aims to enhance the range of services daily developed to meet regional challenges.

ARII
General Manager Mr. Jean-Yves Longere
22 rue Sainte Barbe
CS 30394
13217 Marseille Cedex 02
France

Telephone: +33 4 96 17 07 40
E-Mail: contact@arii-paca.fr

The GDP of Provence-Alpes-Côte d’Azur ranks 6th among French top-level regions, to sit at the 6×6 spot of the global G8x8. In 2014, the GDP was 151.0 billion €, about 7.1 percent of the French total. Comparing the economic power of this French territory with whole countries, it would rank higher than Iraq, but lower than New Zealand.

 

Financial Center Hessen

Frankfurt is the seat of the European Central Bank and the German Bundesbank. It is the location of a major stock exchange in Europe. Frankfurt is not the capital, but the largest city in the state of Hessen, which has distinguished itself as an attractive location for foreign direct investment.

No other German territorial state receives as much foreign investment relative to the number of jobs. Hessen is one of Germany’s and Europe’s most attractive locations for international investors.

The federal state has used Hessen’s central location in Germany to build a transportation infrastructure that is unparalleled in Europe. The Rhine-Main area in particular occupies a top position in Europe for its status as an international hub for air, road and rail traffic.

For more information, try https://english.hessen.de/economy.

Hessen ranks fourth in GDP among the German laender, and is positioned at the 4×4 slot within the G8x8. In 2016, it achieved a GDP of 269.4 billion € and a share of 8.6 percent of the German total. Its GDP was higher than that of Israel and Hong Kong, but slightly lower than that of Egypt.

 

Aichi Business Access

I-BAC (Aichi-Nagoya International Business Access Center) offers free “one stop” services including incubation facilities to foreign companies desiring to enter the Aichi-Nagoya region. Check this for more information: http://www.i-bac.jp/o/

Aichi ranks third in GDP among Japanese prefectures and takes position 3×3 within the G8x8. Its 2013 GDP of 35,448 billion Yen contributed 7.0 percent to the total of Japan.

 

Guangdong Free Trade Zone

The pilot free trade zone of Guangdong province, aiming at the promotion of foreign trade and investment, has been opened in 2015 with great enthusiasm. Their website at http://www.china-gdftz.gov.cn , however, has no “news” in English since June, 2016. You might think that enthusiasm has died down, but no! News in Chinese are updated almost daily. Seems that only the English language team has been on vacation…

Guangdong ranks first in GDP among Chinese provinces and is placed at field 2×1 on the G8x8 chess board. In 2015, its GDP of 7,281.3 billion CNY contributed 10.1 percent to the national total of China. In international comparison, this is more than the GDP of Indonesia and a bit less than Mexico.

 

California Business Portal

The official California website promoting international trade and investment is found at http://www.businessportal.ca.gov. Their address is

1325 J St., Suite 1800
Sacramento, CA 95814

And their telephone: +1 877 345-4633

California ranks first in GDP among US states, placing it at the 1×1 pole position within the G8x8 territories. In 2016, California took a share of 14.1% of the USA total GDP. This was worth $2,602,672 million or 2.6 trillion US Dollars, just as much as the GDP of the United Kingdom (ranking 5th among countries).

 

Andhra Pradesh Economic Development

The Economic Development Board (EDB) has to accelerate the inclusive economic growth of Andhra Pradesh. The board acts as a catalyst to facilitate economic growth, investment climate, reforms, and competitiveness in Andhra Pradesh.

The functions of the Economic Development Board include:

  • Strategic investment planning and promotion
  • Nodal point of contact for investments
  • Mobilisation of resources required for supplementing public and private investment
  • Facilitating inter-departmental coordination
  • Economic and policy research

For more information, check out http://apedb.gov.in/

Andhra Pradesh ranks 7th among India’s states, and is located at slot 7×7 of our G8x8.

New York Promotes Guangxi

The Greater New York Chamber of Commerce will hold an investment and trade promotion event for Guangxi province of China on 25 October 2017. Participation is free for members, non-members will be charged $25. Contact +1 212-686-7220 or info@chamber.nyc for more information and to register, or see their event announcement here.

The event is promoted by the Guangxi provincial department of commerce.

A similar event was hosted by the Greater New York Chamber in October 2015. At that time, the Guangxi delegation included six governmental delegates, six economic and trade delegates, and five delegates from the Chinese Consulate General in New York. They spoke about investment opportunities in Guangxi.

Information and image source: Greater New York Chamber of Commerce.

The State of New York ranks third among US states in GDP, placing it on the 1×3 field of the global G8x8 chess board of most productive territories of the most productive countries. In 2016, the state contributed 8.1 percent to the national GDP. This was an amount of $1,488 billion, almost as much as all of Canada produced at the same time. Guangxi Autonomous Region, on the other hand, ranks only 17th among Chinese provinces and is not yet listed a G8x8 member.