New agreement to help UK companies win work at Tokyo Olympics announced
The vote of confidence in the ability of UK companies to deliver on major projects comes as the amount of economic benefit the UK has received from the London 2012 Olympics breaks through the £13 billion mark.
The Tokyo Games are potentially worth millions to the UK economy and could benefit small and medium sized businesses throughout the supply chain.
UK companies have already won £130 million of contracts for the Brazil 2014 World Cup and the Rio 2016 Olympic and Paralympic Games. More than 60 UK companies also won contracts for the Sochi 2014 Winter Olympics, most of them mid-sized businesses.
Trade & Investment Minister Lord Livingston said:
“I am delighted that Japan has signalled that it wants to use UK expertise to help deliver both the Tokyo Olympics and Rugby World Cup. The delivery of London 2012 on time and under budget has shown the world that the UK has a significant amount of expertise in staging large scale events.
“Businesses can get in touch with UK Trade and Investment, who can provide support and advice on the opportunities available.”
Bilateral trade between the UK and Japan was worth £22.5 billion in 2011. In total, 1,300 Japanese companies directly employ over 140,000 people in the UK, plus tens of thousands more jobs in the supply chains.
Also today, Japan’s largest mobile service operator NTT Docomo has announced its first European investment of nearly £5 million into Tech City based start-up Certivox.
Welcoming the investment, Lord Livingston said:
“The UK is the top destination in Europe for Japanese investment. Today’s deal with Certivox is one of many high-value Japanese investments UKTI is working to attract in the fields of low carbon infrastructure, advanced engineering and information communication technologies.”