Report of the Director of Economic Development.
The Sub-Committee received an update report on the work of the Economic Development Office over the month of April, which covered the hosting of the Commonwealth Business Forum, the City Corporation’s engagement with Brexit debates in Parliament, the hosting of City Week, and the Lord Mayor’s international visits to Brazil, Chile, Peru, Singapore and Indonesia.
The Chairman updated the Sub-Committee on more recent developments, including her recent visit to Washington & New York, on which a letter to the Chancellor of the Exchequer was being drafted.
A Member asked a question regarding follow-up on visits and delivering against the commitments made. The Assistant Director of Economic Development remarked that additional resource had been focused in this area, where there were now clearly identified key markets and clear outcomes for each visit. Another Member added how, importantly, inward investment visits were taking place and gave an example of the Mayor of Shenzhen visiting London.
Members discussed the recent TheCityUK and EY report on immigration and visas, which had been published the previous week. The Assistant Director of Economic Development updated Members on the work that would soon be commissioned by the City Corporation to focus on the customer journey for financial and professional services’ and technology companies setting up in the City, ensuring that good practices are in place and that the process is as simple as possible.
· The letter on the US visit from the Chairman of Policy & Resources to the Chancellor of the Exchequer be circulated to Members of the Public Relations and Economic Development Sub Committee for their information;
· The report be noted.