Ministers today vowed to capitalise on the success of the Olympics
By Claire West
Ministers today vowed to capitalise on the success of the Olympics by working with UK firms to realise an international business legacy that could be worth £13bn to the UK economy in future years.
During the Olympics the Prime Minister, Deputy Prime Minister, Chancellor, Business Secretary and 35 other ministers have welcomed around 3,000 business leaders and global figures so far, including over half of the FTSE 100 companies and hundreds of international buyers, investors and policy makers, to 12 Global Business Summits at Lancaster House in London as part of an 18-day programme running into September.
Speakers have included IMF Managing Director Christine Lagarde, designer Stella McCartney and Apple designer Sir Jonathan Ive. Further events will continue into September, with the total number of attendees set to reach 4,000. A programme of 75 business seminars around the UK is also underway.
Today, Deputy Prime Minister Nick Clegg and Brazilian Vice President Michel Temer will jointly host a Brazil Business Summit bringing UK and Brazilian businesses together to forge new trading partnerships, including multi-million pound opportunities to help deliver the Rio 2016 Games. Already, Aecom UK has won an international competition to design the Rio 2016 Olympic Park Master Plan, Populous designed the Sochi stadium, and a number of British companies including Atkins have won around £600m contracts for Qatar 2022 in related infrastructure development and planning.
At the event, Asyst International + Rhealeza, a Brazilian multinational providing a range of ICT services, will announce plans to create 700 UK jobs over the next three years. Bristol firm Viper Subsea will announce that it has secured a major contract for the supply of underwater components for use in a deep-water development the Santos Basin, offshore Brazil. And the UK Intellectual Property Office will announce the appointment of a UK Intellectual Property Attache to Brazil to support UK firms doing business in this fast growing market.
Overall, hosting the Olympics is forecast to deliver around £13bn in economic benefit to the UK in the coming months and years as businesses take advantage of the unique opportunities provided.