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Business / View

Referendum for sustained growth

By Roddy Gow (China Daily) Updated: 2014-10-13 14:22

The Scottish Government's five-year China strategy is a good starting point.

This sets out the Scottish government at Holyrood's ambitions in developing Scotland's relationship with China.

It recognizes that, despite the obvious differences in population, geography and wealth, Scotland has much to offer China.

And it sets out specific areas to focus on-from expanding Scotland's education and research links to China to promoting an innovative and creative Scotland through cultural and sporting events like golf's Ryder Cup which has just been held at Gleneagles.

Because of Scotland's small domestic market, connecting with overseas markets such as China is vital to its success.

Yet studies suggest as many as half of all Scottish entrepreneurs setting up businesses do not expect to have any foreign customers-something that has to change.

By contrast Scotland's record in attracting overseas investment is excellent.

So as well as boosting direct exports to China, the Scottish government's strategy has a specific aim: to double the number of major Chinese investors with a presence in Scotland by 2017.

But it is important that Scots don't rely solely on the Scottish government or the UK government as it seeks to engage more fully with the wider world, especially China and the rest of Asia.

Government and its agencies have critical roles to play. But it cannot look to the public sector to provide solutions to every challenge.

It is important, too, to think beyond the traditional ideas of what Scotland can offer the world.

Yes, Scotland is proud of its oil and gas and whisky industries. But what about its expertise in financial services, life sciences, energy and creative industries?

"Scotland has an internationally competitive economy. It is among the best in the world," says Julian Taylor, Scottish Development International's executive director for Asia Pacific region based in Shanghai.

"This is because of its history and culture of innovation. It is because its people and institutions, such as universities, engage with international partners.

"Very importantly, it is because Scottish companies have a truly global outlook and see great opportunity in building relationships in markets such as China.

"In response to this, Scotland's ability to attract, retain and grow foreign direct investment puts it at the top of many league tables.

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