Gary Millar, Liverpool City Council's Cabinet Member for Business, Enterprise and Investment, talking at an IFB2016 launch event at Exhibition Centre Liverpool.
Chinese investors coming to Liverpool for this summer’s International Festival for Business (IFB2016) will have up to £500bn “in their pockets”, it was revealed today.
At an IFB2016 breakfast reception at Exhibition Centre Liverpool , the city’s Cabinet Member for Business, Enterprise and Investment, Gary Millar, told an audience of hundreds of business leaders that he had just returned from China.
He said: “At least 20 delegations will be coming from China for IFB and they want to see the best of British business.
“They are coming to what is the most entrepreneurial city in the UK and they will be bringing £500bn in their back pockets to invest.”
Other speakers at the event included Downtown in Business chief executive, Frank McKenna, Clive Drinkwater, regional director of UKTI, and IFB2016 director Ian McCarthy.
Mr McCarthy told the audience he expected £265m worth of business to be done at the festival.
Urging businesses to get involved, he said: “We live in an international economy and IFB2016 will offer people the chance to engage with that economy. There will be tangible business outcomes.”
The event also featured a panel discussion with businesses who benefited from IFB2014 taking part.
Kevin Riozzi from Speke-based Yanco, which produces insecticides that are vital for fighting the spread of disease across the world, talked about contacts he had made during the festival.
As a result, the company has opened up markets in France, Columbia, Mexico and Vietnam and secured £8,000 of ERDF funding.
It was also revealed that Reggae Reggae Sauce founder Levi Roots, designer and entrepreneur Wayne Hemingway, and Unruly chief executive Sarah Wood will head the line-up of speakers at this year’s Accelerate 2016 event during the festival.