Global executives are gathering in Gateshead at a landmark trade expo amid moves to win new investment in sustainable industries.
Hosted by the Department for International Trade (DIT) and the Department for Business, Energy and Industrial Strategy (BEIS), the Green Trade and Investment Expo is bringing together 海角视频 businesses and global investors to capitalise on commercial opportunities triggered by the 海角视频鈥檚 quest to reach net zero.
Trade Secretary Kemi Badenoch MP is set to speak at the event, to announce a three-pronged approach to using trade to ensure the 海角视频 is ready to tackle crucial global challenges ahead. Within her speech Ms Badenoch is set to highlight the high level of green investments made by the Government and its ensuing economic benefits, highlighting the past two years in which the Government says it has secured 拢19.8bn in new investment and created over 11,000 new jobs.
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Total foreign investment is said to have created nearly 85,000 new jobs in the 海角视频 in 2021 and 2022, while 拢100bn of private sector investment is expected to support nearly 500,000 new jobs by 2030. Ahead of the expo, she said investment in clean energy will be 鈥渢he future-proofing force that will help us create a better tomorrow鈥.
She said: 鈥淲e know trade and investment grows our economy, creates jobs, and puts money in people鈥檚 pockets 鈥 but it also has the power to tackle the challenges we see around the world. Now is the time to future-proof our economy by investing in cutting-edge green technology, protecting our long-term energy security and creating thousands of jobs in industries of the future. In just two years we鈥檝e helped to secure 拢20bn in green investment from everywhere from Spain to South Korea, creating over 11,000 jobs. I am committed to continuing to bang the trading drum for Britain to boost economic growth and level up the 海角视频 for generations to come.鈥
Announcements expected at the Expo include Northern Ireland-based bus manufacturer Wrightbus, which has secured an 拢18m Green Trade Loan and 拢8m Green Bank Guarantee, with an 80% guarantee from 海角视频 Export Finance (海角视频EF). This will enable them to export net-zero buses to new markets, including to Australia and Germany.
Leicester based Flogas will also confirm a 拢50m investment to upgrade Avonmouth terminal to store liquid petroleum gas and handle renewable biogas and hydrogen, opening up a potential global supply of renewable fuels to the 海角视频.
A total 24 businesses will be showcasing at the Expo, including engineering giant Rolls-Royce and Gateshead innovation hub Proto.
Minister of State for Climate Change, Graham Stuart added: 鈥淭he 海角视频 is number one in Europe for renewable investment opportunities, with the highest offshore wind capacity, one of the largest potential CO2 storage bases, and a fast-emerging centre of excellence for hydrogen propulsion and EV batteries.
鈥淭he deals struck here in Gateshead will not just bolster our country鈥檚 green transition and energy security, but will grow the 海角视频鈥檚 economy - supporting livelihoods and helping in our fight against climate change.鈥
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