The Department of Economic Development has announced that it will shortly be enhancing its representation and presence in London.
The Department will be appointing a Head of UK Business Development, based in London, to represent the Isle of Man’s interests in the City. The new appointee will have a mandate to generate new business for Isle of Man companies and to increase awareness of the Island both within this key market and throughout the UK in general.
Negotiations are also at an advanced stage with several Isle of Man firms who have a London office. As well as offering a physical presence, they will form a partnership with the Department and provide advice and guidance to potential customers on the benefits and opportunities of doing business with the Isle of Man. Additionally, their extensive network of contacts in the City will be able to be utilised for further benefit.
The network of new offices provide a permanent, yet flexible, presence and Isle of Man businesses will also be able to utilise these to introduce their clients to Ministers and Government officials when they are in London.
At the same time the Department is also announcing the closure of its unmanned London office, situated at 1 Cornhill, on 19th November 2010. Since it first opened in January 2006, the office at 1 Cornhill served as a venue for local companies meeting clients in London and was successful in this regard. However, with the passage of time, local companies have increasingly used alternative venues, which was another of the drivers for change.
Tim Craine, Director of the DED’s Business Development Agency, commented: “The new arrangements will provide an excellent opportunity for us to push forward with promoting the Isle of Man to the key London market and within the UK.
“We feel that this reorganisation of our representation in London is critical in keeping the Island competitive and adds significantly to our ability to attract business for the Isle of Man.”
Minister for Economic Development, Allan Bell MHK, commented: “Having an effective presence in London is crucial to our ongoing efforts to develop business opportunities and the consequent benefits to our economy this will bring.
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“The private sector has been calling on Government for some time to take this type of initiative and we now consider that the time is right for the progression of our London presence and I hope that our business community will embrace these new opportunities.”
ENDS
Thursday 14th, October 2010 12:02pm.
