News story: UK leading Europe for FDI as Fox hunts future investors in China

International Trade Secretary Dr Liam Fox will attend China’s biggest international import show alongside a 50-strong UK business delegation. He will be beating the drum for UK businesses during the inaugural China International Import Expo (CIIE).

Taking place in Shanghai from 5-10 November, Dr Fox will push for British firms to secure tens of millions of export wins and investment at the show.

He will hope to build on the recent success highlighted in the United Nations Conference on Trade and Development (UNCTAD) report, which indicated the UK achieved the second highest level of Foreign Direct Investment (FDI) in the world during the first six months of 2018.

Championing UK business, Dr Fox will tour the UK Pavilion in China as it showcases world-leading companies including Jaguar Land Rover and British Airways, as well as promoting a range of sectors popular in the Chinese market such as healthcare, education and the creative industries.

International Trade Secretary Dr Liam Fox MP said:

As we leave the European Union, we have a once in a generation opportunity to put the UK at the centre of the world’s fastest growing market – and increasing trade with China is at the heart of this vision.

Greater global trade links not only deliver a better deal for consumers and businesses but create jobs for people back in the UK. Whether you are an armchair exporter or a growing firm looking for international investment – this event will help drive prosperity in the UK.

Over recent months China has started to open up its markets for UK goods and services, including dairy products, potatoes and petrol stations. DIT’s presence at the show will help create even more exciting opportunities for British companies.

The International Trade Secretary will be joined by the Minister for Trade and Export Promotion Baroness Fairhead and His Royal Highness The Duke of York.

The UK, which has been named a “Country of Honour” at CIIE, is seeing the event as a major opportunity to grow bilateral trade which is already worth more than £65bn.

UK Pavilion at CIIE

The UK’s presence at CIIE will feature revolutionary technology and industry best practice from a range of sectors including healthcare and life sciences, financial and professional services, creative industries, energy and mining, ICT, education, aviation, FMCG and sport.

The theme of the Pavilion is Innovation is GREAT and will include cutting-edge Virtual Reality and Augmented Reality technologies from ground-breaking British companies such as Mi Hiepa Sports, who promote Global Elite Football VR – a market leading VR training & cognitive development tool for elite football, which is already used by world leading football clubs.

The pavilion will also feature companies such as WorldFirst, ACCA, Lloyds Bank, Alibaba Cloud, the University of Buckingham, Rio Tinto, Baosteel and Anstee, GSK and Boots.

Notable British contributions to the Expo include:

  • BP who have been operating in China since the early 1970s and are one of the leading foreign investors in the oil and gas sector in China
  • HSBC who will showcase the bank’s heritage in China and its central role in linking China with the world through trade and investment
  • Global healthcare company GSK, who are fostering exchange between Chinese and British universities in the fields of health and economy, and developing advanced medical solutions that are most relevant to Chinese patients



News story: UK leading Europe for FDI as Fox hunts future investors in China

International Trade Secretary Dr Liam Fox will attend China’s biggest international import show alongside a 50-strong UK business delegation. He will be beating the drum for UK businesses during the inaugural China International Import Expo (CIIE).

Taking place in Shanghai from 5-10 November, Dr Fox will push for British firms to secure tens of millions of export wins and investment at the show.

He will hope to build on the recent success highlighted in the United Nations Conference on Trade and Development (UNCTAD) report, which indicated the UK achieved the second highest level of Foreign Direct Investment (FDI) in the world during the first six months of 2018.

Championing UK business, Dr Fox will tour the UK Pavilion in China as it showcases world-leading companies including Jaguar Land Rover and British Airways, as well as promoting a range of sectors popular in the Chinese market such as healthcare, education and the creative industries.

International Trade Secretary Dr Liam Fox MP said:

As we leave the European Union, we have a once in a generation opportunity to put the UK at the centre of the world’s fastest growing market – and increasing trade with China is at the heart of this vision.

Greater global trade links not only deliver a better deal for consumers and businesses but create jobs for people back in the UK. Whether you are an armchair exporter or a growing firm looking for international investment – this event will help drive prosperity in the UK.

Over recent months China has started to open up its markets for UK goods and services, including dairy products, potatoes and petrol stations. DIT’s presence at the show will help create even more exciting opportunities for British companies.

The International Trade Secretary will be joined by the Minister for Trade and Export Promotion Baroness Fairhead and His Royal Highness The Duke of York.

The UK, which has been named a “Country of Honour” at CIIE, is seeing the event as a major opportunity to grow bilateral trade which is already worth more than £65bn.

UK Pavilion at CIIE

The UK’s presence at CIIE will feature revolutionary technology and industry best practice from a range of sectors including healthcare and life sciences, financial and professional services, creative industries, energy and mining, ICT, education, aviation, FMCG and sport.

The theme of the Pavilion is Innovation is GREAT and will include cutting-edge Virtual Reality and Augmented Reality technologies from ground-breaking British companies such as Mi Hiepa Sports, who promote Global Elite Football VR – a market leading VR training & cognitive development tool for elite football, which is already used by world leading football clubs.

The pavilion will also feature companies such as WorldFirst, ACCA, Lloyds Bank, Alibaba Cloud, the University of Buckingham, Rio Tinto, Baosteel and Anstee, GSK and Boots.

Notable British contributions to the Expo include:

  • BP who have been operating in China since the early 1970s and are one of the leading foreign investors in the oil and gas sector in China
  • HSBC who will showcase the bank’s heritage in China and its central role in linking China with the world through trade and investment
  • Global healthcare company GSK, who are fostering exchange between Chinese and British universities in the fields of health and economy, and developing advanced medical solutions that are most relevant to Chinese patients



Speech: Helping people from ethnic minority backgrounds into work

Thank you Kirsty and the Employment Related Services Association (ERSA) for inviting me to speak today. It is an absolute pleasure.

But more importantly – thank you for publishing this interesting Race, Ethnicity and Employment report.

We have made huge progress in recent decades to improve the opportunities for ethnic minorities in the UK.

But its studies like this that help us identify where the challenges still lie.

And what we in government can do to tackle them.

I’m going to start by talking about Doctor Who.

For those of you who have heard me speak before you will know it is my go-to programme for anecdotes.

In a recent episode the new Doctor, and what a pleasure it is that we finally have a female Doctor, she and companions travelled back to 1950s Alabama.

On the eve of Rosa Parks’ historic bus protest that sparked the Civil Rights movement.

What was remarkable was not only Rosa Parks’ personal bravery.

But it was the incomprehension of the characters from 2018 when faced with the institutional racism of 1950s America.

This well-loved family programme brought the subject of racial injustice to Sunday night viewing, making it something to be talked about and not ignored.

And it showed how different the experience of ethnic minorities now is from decades past.

But let’s be clear, discrimination does still exist.

And as a recent incident on Ryanair sadly showed, so does racism.

On a personal level, when my father settled in the UK in the 70s, he was not easily able to find a job in line with his experience and qualifications.

There may have been many reasons for this. But I expect his experience may not have been dissimilar from that of others, from an ethnic minority background.

So he set up his own business and, thankfully, made a success of it.

But that was then, of course.

Now we have cause for celebration, as those from an ethnic minority background share in the booming jobs market we have created. Ethnic minority employment is at a record high.

And the employment gap between ethnic minorities and white groups is below 10% for the first time ever on record.

In fact, we are almost three quarters of the way to achieving the government’s target of increasing ethnic minority employment by 20% by 2020.

Since 2010 we have seen 3.3 million more people in work overall, of those 1.15 million were from ethnic minorities.

That means growth in ethnic minority employment of 36% – 3 times the growth in overall employment – closing the gap faster than ever before.

Cause for celebration, but not inaction.

The ethnic minority employment rate is 65.5%.

A record high, but that’s still the same level as the overall UK employment rate was in 1984.

So I welcome progress, and I welcome the increasing rate of progress.

But when people from ethnic minorities face the same employment prospects that others enjoyed decades ago, that progress will never be enough.

Tackling injustices is at the heart of the Prime Minister’s agenda.

When she launched the Race Disparity Audit (RDA) last year it was the first time a UK government looked overall at the impact of race across many aspects of life.

And we are leading the world in this approach.

The RDA has raised a lot of issues.

But above all, it has shown that we cannot treat ethnic minorities as one single group, with the same challenges.

Something I am glad to see ERSA’s report also highlights.

To give some examples.

The British black employment rate is lower than that of the British Indian community, at 67.6 per cent.

In the British Chinese community it’s 60.6 per cent, while the average rate in the British Pakistani and British Bangladeshi communities is just 54.8 per cent.

British Pakistani and British Bangladeshi workers are far more likely to be in the lowest skilled occupation groups and receive the lowest average hourly pay.

While the British Chinese community has a gender employment gap of just 6.6 percentage points, lower than the white British or UK average, among the British Indian community it’s 12.3 percentage points.

And that’s exactly why our approach is tailored to the specific challenges of different communities.

My department has identified 20 ‘challenge areas’ across the country.

These are areas where the employment gap is highest and the ethnic minority population is the greatest.

We are targeting these places with specialist support, trialling new interventions.

Including mentoring programmes and targeted projects building on existing community networks.

Youth

Overall youth unemployment may be at a record low, but it is still hard for young people to see themselves in jobs which are effectively invisible to them.

Jobs where they do not see people like themselves succeeding.

That is why our network of mentoring circles helps open their horizons, bringing young people from ethnic minorities together – voluntarily – in their local jobcentre.

These young people are being mentored in our jobcentres by major employers like HSBC and Fujistsu, giving them the self-confidence and skills and aspiration they need.

I have visited one of these mentoring programmes in north London.

And saw for myself how transformative they can be for youngsters.

Particularly when the mentoring is provided by someone from a similar background to them.

So far, 63 mentoring circles have taken place in 21 jobcentres, and more are being prepared for next year.

A lack of expectations can do more than just drain ambition and hope – it can drive young people onto the wrong path.

That is why proactive intervention can be so important in fuelling their success.

Women

British Pakistani and British Bangladeshi women have some of the lowest employment rates in the UK.

Part of the reason for this may be cultural expectations of caring responsibilities in the home.

Determining what is a choice, and what may be the result of a cultural pressure is not straight forward.

But we must ensure that women know that when they choose to work, they can and will be valued.

That is why in Birmingham Yardley, an area with low employment rates for women from Pakistani and Bangladeshi backgrounds, we are reaching out to them to build a trusted relationship for the first time.

By building the women’s confidence, and their knowledge about job opportunities.

And by working in existing community networks, we can bring them closer to the labour market so they can make a choice about their future in it.

Creating full employment among ethnic minorities communities is not just the right thing to do.

It makes good business sense.

As ERSA’s members already know, an inclusive employer is also a successful employer.

And that includes the bottom line.

Full representation of ethnic minority individuals across the labour market, through participation and progression in their careers, would boost the economy by an estimated £24 billion a year.

And it’s something the whole of government is acting on.

Take my colleagues in the Department for Education.

They are working with thousands of employers and the National Apprenticeship Service to get more young people from ethnic minorities into apprenticeships, a route into almost any career from nuclear engineering to law.

We have pledged to increase the number of apprentices from an ethnic minority background by 20 per cent by 2020.

And last year 55,000 apprentices came from such backgrounds.

Conclusion

The more we understand about where inequality exists, the more we can do to tackle it.

So again I thank ERSA for this thought -provoking report.

It joins a huge bank of evidence, including the Race Disparity Audit and the future findings from the consultation on the Ethnic Pay Gap.

Our work to tackle inequality is ongoing, and will be for some time yet.

But arming ourselves with this evidence means progress will be quicker.

So that when the Doctor Who of the future travels back to our own time, and she and her companions find it difficult to comprehend the injustices which still exist today – that will be because we have tackled them and created a future where everyone has the same opportunity to succeed in life.




Speech: Helping people from ethnic minority backgrounds into work

Thank you Kirsty and the Employment Related Services Association (ERSA) for inviting me to speak today. It is an absolute pleasure.

But more importantly – thank you for publishing this interesting Race, Ethnicity and Employment report.

We have made huge progress in recent decades to improve the opportunities for ethnic minorities in the UK.

But its studies like this that help us identify where the challenges still lie.

And what we in government can do to tackle them.

I’m going to start by talking about Doctor Who.

For those of you who have heard me speak before you will know it is my go-to programme for anecdotes.

In a recent episode the new Doctor, and what a pleasure it is that we finally have a female Doctor, she and companions travelled back to 1950s Alabama.

On the eve of Rosa Parks’ historic bus protest that sparked the Civil Rights movement.

What was remarkable was not only Rosa Parks’ personal bravery.

But it was the incomprehension of the characters from 2018 when faced with the institutional racism of 1950s America.

This well-loved family programme brought the subject of racial injustice to Sunday night viewing, making it something to be talked about and not ignored.

And it showed how different the experience of ethnic minorities now is from decades past.

But let’s be clear, discrimination does still exist.

And as a recent incident on Ryanair sadly showed, so does racism.

On a personal level, when my father settled in the UK in the 70s, he was not easily able to find a job in line with his experience and qualifications.

There may have been many reasons for this. But I expect his experience may not have been dissimilar from that of others, from an ethnic minority background.

So he set up his own business and, thankfully, made a success of it.

But that was then, of course.

Now we have cause for celebration, as those from an ethnic minority background share in the booming jobs market we have created.
Ethnic minority employment is at a record high.

And the employment gap between ethnic minorities and white groups is below 10% for the first time ever on record.

In fact, we are almost three quarters of the way to achieving the government’s target of increasing ethnic minority employment by 20% by 2020.

Since 2010 we have seen 3.3 million more people in work overall, of those 1.15 million were from ethnic minorities.

That means growth in ethnic minority employment of 36% – 3 times the growth in overall employment – closing the gap faster than ever before.

Cause for celebration, but not inaction.

The ethnic minority employment rate is 65.5%.

A record high, but that’s still the same level as the overall UK employment rate was in 1984.

So I welcome progress, and I welcome the increasing rate of progress.

But when people from ethnic minorities face the same employment prospects that others enjoyed decades ago, that progress will never be enough.

Tackling injustices is at the heart of the Prime Minister’s agenda.

When she launched the Race Disparity Audit (RDA) last year it was the first time a UK government looked overall at the impact of race across many aspects of life.

And we are leading the world in this approach.

The RDA has raised a lot of issues.

But above all, it has shown that we cannot treat ethnic minorities as one single group, with the same challenges.

Something I am glad to see ERSA’s report also highlights.

To give some examples.

The British black employment rate is lower than that of the British Indian community, at 67.6 per cent.

In the British Chinese community it’s 60.6 per cent, while the average rate in the British Pakistani and British Bangladeshi communities is just 54.8 per cent.

British Pakistani and British Bangladeshi workers are far more likely to be in the lowest skilled occupation groups and receive the lowest average hourly pay.

While the British Chinese community has a gender employment gap of just 6.6 percentage points, lower than the white British or UK average, among the British Indian community it’s 12.3 percentage points.

And that’s exactly why our approach is tailored to the specific challenges of different communities.

My department has identified 20 ‘challenge areas’ across the country.

These are areas where the employment gap is highest and the ethnic minority population is the greatest.

We are targeting these places with specialist support, trialling new interventions.

Including mentoring programmes and targeted projects building on existing community networks.

Youth

Overall youth unemployment may be at a record low, but it is still hard for young people to see themselves in jobs which are effectively invisible to them.

Jobs where they do not see people like themselves succeeding.

That is why our network of mentoring circles helps open their horizons, bringing young people from ethnic minorities together – voluntarily – in their local jobcentre.

These young people are being mentored in our jobcentres by major employers like HSBC and Fujistsu, giving them the self-confidence and skills and aspiration they need.

I have visited one of these mentoring programmes in north London.

And saw for myself how transformative they can be for youngsters.

Particularly when the mentoring is provided by someone from a similar background to them.

So far, 63 mentoring circles have taken place in 21 jobcentres, and more are being prepared for next year.

A lack of expectations can do more than just drain ambition and hope – it can drive young people onto the wrong path.

That is why proactive intervention can be so important in fuelling their success.

Women

British Pakistani and British Bangladeshi women have some of the lowest employment rates in the UK.

Part of the reason for this may be cultural expectations of caring responsibilities in the home.

Determining what is a choice, and what may be the result of a cultural pressure is not straight forward.

But we must ensure that women know that when they choose to work, they can and will be valued.

That is why in Birmingham Yardley, an area with low employment rates for women from Pakistani and Bangladeshi backgrounds, we are reaching out to them to build a trusted relationship for the first time.

By building the women’s confidence, and their knowledge about job opportunities.

And by working in existing community networks, we can bring them closer to the labour market so they can make a choice about their future in it.

Creating full employment among ethnic minorities communities is not just the right thing to do.

It makes good business sense.

As ERSA’s members already know, an inclusive employer is also a successful employer.

And that includes the bottom line.

Full representation of ethnic minority individuals across the labour market, through participation and progression in their careers, would boost the economy by an estimated £24 billion a year.

And it’s something the whole of government is acting on.

Take my colleagues in the Department for Education.

They are working with thousands of employers and the National Apprenticeship Service to get more young people from ethnic minorities into apprenticeships, a route into almost any career from nuclear engineering to law.

We have pledged to increase the number of apprentices from an ethnic minority background by 20 per cent by 2020.

And last year 55,000 apprentices came from such backgrounds.

Conclusion

The more we understand about where inequality exists, the more we can do to tackle it.

So again I thank ERSA for this thought -provoking report.

It joins a huge bank of evidence, including the Race Disparity Audit and the future findings from the consultation on the Ethnic Pay Gap.

Our work to tackle inequality is ongoing, and will be for some time yet.

But arming ourselves with this evidence means progress will be quicker.

So that when the Doctor Who of the future travels back to our own time, and she and her companions find it difficult to comprehend the injustices which still exist today – that will be because we have tackled them and created a future where everyone has the same opportunity to succeed in life.




News story: Innovation loans will help UK businesses improve manufacturing

In the second round of innovation loans funding, £12 million has been offered to 17 businesses developing innovative manufacturing processes or using new materials in production. The companies will use the funding to carry out R&D projects to scale up production and commercialise new technologies.

Successful companies

Successful applicants to the second round of loans funding include:

  • Callaly: a new feminine care product designed in London and manufactured entirely in the UK
  • KwickScreen: portable printed room partitions, based and manufactured in London
  • The Electrospinning Company: clinical-grade biomaterials
  • Valuechain: manufacturing supply chain software. ValueChain has offices worldwide in China and India, as well as across the UK
  • Ashwoods Electric Motors: smaller, lighter and more efficient permanent magnet electric motors

Patient capital for disruptive businesses

Thang Vo-Ta, CEO and co-founder of loans recipient Callaly, said:

There’s a danger of impatient capital demanding instant returns. If you want to build something right, to the highest standards and without any compromise, keeping all your research and product development here in the UK, you need patient partners.

That’s exactly what we’re getting [with an innovation loan].

Helping UK businesses to scale up

Innovate UK’s deputy executive chair and business officer, Simon Edmonds, said:

Innovation in manufacturing and materials requires finance that understands and accepts the risk in new technologies, so we’re excited about the opportunities that innovation loans are now unlocking for UK businesses to invest in the delivery of new products and services in this important sector for the UK economy.

We’ve seen continuing high levels of demand for this new, affordable, flexible and low-interest finance option for innovation and we’re confident it will help potential UK businesses to scale up, create high-value jobs and ultimately accelerate economic growth and improve the quality of life across all regions.

About innovation loans

Innovate UK introduced its pilot programme of innovation loans to some of the UK’s most innovative businesses to scale. To do this, the programme will help tackle the key issues facing innovative companies. If successful in the competitive application process, businesses can borrow between £100,000 and £1 million.

Apply to the latest innovation loans competition

Up to £10 million is available in the latest innovation loans competition to help businesses turn their game-changing ideas into a commercial reality. Innovate UK is looking for later-stage projects developing new products or services, or using existing ones in an innovative way.

Projects from any area of technology or industry sector will be considered, as long as it will lead to gains in productivity or sustainable business growth.