UK govt plans charm offensive during London Olympics to win BRIC deals

India News Bulletin Desk
UK govt plans charm offensive during London Olympics to win BRIC deals

British ministers are gearing up to capitalise on London 2012 Olympics Games as the greatest business networking opportunity. The government is hoping to use the Games to win multi-billion pounds worth of international contracts to revive the ailing economy.

The ministers are planning to lobby emerging BRIC (Brazil, Russia, India China) economies to win multi-billion pound contracts from them for their pet projects around areas such as healthcare, construction of railways and airports, nuclear plant and oil exploration, according to the Independent.

The UK government is looking to secure deals worth at least £4bn during London 2012 Olympics, the Independent added in its report. But over a period of four years, the government expects the Olympics to generate £13bn.

The government’s wish list includes about 50 potential investment projects in the emerging economies.

Throughout the Games hundreds of summits, conferences, and networking events with delegates of other countries including Brazil and China will be hosted across the UK, according to UK Trade & Investment (UKTI), the government body promoting UK businesses in international markets.

“The 2012 Olympic and Paralympic Games are a once-in-a-lifetime opportunity to showcase all that is great about Britain and British businesses to the world,” said Lord Green, Minister for Trade & Investment.

Green said that UK companies should seek out new clients across the globe during London Olympics. “It’s a key part of our plan to make sure we realise a business legacy for companies up and down our country from these Games.”

The UKTI has created a free online resource -- British Business Club -- to enable UK businesses to connect with business partners across the world, arrange one-to-one meetings, find the go-to business events across the UK and promote their business capability & skills.

Securing multi-billion-pound worth of contracts from emerging economies will provide a respite to the economy which is in the danger of entering a double dip recession.

While London 2012 presents the UK government authorities as well as local businesses with an opportunity to lobby countries such as China, they face stiff competition from other countries which are eyeing the same contracts.

In addition, the government will use the Games as an opportunity to invite foreign investors. Mayor of London, Boris Johnson, said that he is “determined to ensure” that London makes the most of the opportunities London 2012 brings and shows why it is the pre-eminent global business destination.

The British Business Embassy, also developed by UKTI will act as the hub for the government’s ambitious international business legacy programme. It will see over 3,000 UK and international business leaders from across the globe come together for an ambitious series of global, sector and country summits.

High-profile leaders from across the globe including Christine Lagarde, the IMF head and Eric Schmidt, Google’s chairman are expected to gather in the capital during London 2012 Olympics.

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