THE appointment process for a new Government position based in London is said to be at an "advanced stage".

The Department of Economic Development recently announced that they were appointing a Head of UK Business Development to represent the Island's interests in the city.

Tim Craine, director of the Business Development Agency, said: The position was advertised both on and off Island and the appointment process is at an advanced stage.

"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."

The new employee will have a mandate to generate new business for Isle of Man companies. It is a contracted position and will involve travel between the London and the Isle of Man.

Tim said the decision of what the contract is worth is currently "the subject of negotiation with the preferred candidate". 

The Department has also announced that it will be closing its unmanned London office which is situated in Cornhill on November 19.

Tim explained: "There will be savings associated with the closure however saving money is not the main driver.

"The main objective is to move the London office model forward away from an unmanned office and towards partnerships/alliances and co-operation with the private sector in order to increase impact and profile in London."

The unmanned office first opened in January 2006 and served as a venue for local companies meeting clients in London.

 
Negotiations are now at an advanced stage between several Isle of Man firms with a presence in London to create a network of offices where clients could be introduced to Ministers and Government officials when they are in the city.