HIE: Investor interest from Asia Pacific at all-time high
Pictured (L-R): Dr Stephen Baker OBE, trade & investment envoy to Japan; Sayoko Tosaka, SDI; Vicky Grant, head of international trade and investment HIE; Stuart Black HIE; Stefan Bengtsson, SDI, at the British Embassy Tokyo (credit: HIE)
Stuart Black, HIE chief executive, visited Tokyo, Seoul and Guangzhou last week to meet with key contacts and existing and potential investors.
The trip was organised by Scottish Development International (SDI) teams based in the Asia Pacific region. It included meetings and factory tours with companies such as Sumitomo Electric Industries (SEI), Hyundai and Mitsui; all of which have existing interests in the Highlands and Islands.
SEI is building a £350 million cable-manufacturing factory at Nigg. Mitsui recently acquired Global Energy Group’s offshore business, which includes Port of Nigg, Global Energy (Fabrication) and Global Energy Service Holdings. And Hyundai has a Memorandum of Understanding with the Scottish Government, Scottish Enterprise and HIE to explore opportunities in floating offshore wind.
Sumitomo Electric Industries managing executive officer Eiji Sakai and Stuart Black of HIE. SEI is developing the £350m cable factory at Nigg (credit: HIE)
Mr Black also met with other potential investors to discuss their projects and explore how HIE can help secure them for the region. He said inward investment interest is diverse and across many sectors, but renewable energy is the dominant theme.
Mr Black said: “There’s no doubt that investment from companies owned outside of Scotland is increasingly important in growing the economy of our region.
“What was clear from our visit last week is that the level of interest in our region from the Asia-Pacific has never been higher. There are many reasons for this, not least our report published last year outlining £100 billion of opportunities, most of which is linked to renewable energy.
“We’ve seen some significant investments confirmed in recent years and can be confident we’ll see further similar investments in future. These projects will help make sure Scotland has the infrastructure and manufacturing capacity to fully benefit from the growth in the offshore wind sector in particular.”

