Global investors feel a 'warmth' towards Scotland, The Scotsman's Investment Conference told

Opening proceedings at Wednesday’s The Scotsman Investment Conference, Scottish Financial Enterprise chief executive Sandy Begbie delivered his report card on how Scotland, and the wider UK, is doing on a global scale.

On the ‘could do better’ side of his UK report card, he said: “We are viewed as a highly taxed, highly regulated country.” On the ‘attractive’ side, Mr Begbie said: “The UK is viewed now, in comparison to many other countries, as politically stable.” He also referred to a very talented workforce and the quality of universities.

Focusing on Scotland, Mr Begbie identified some barriers to investment, such as the lack of an investible project pipeline. In terms of positive aspects, he cited the annual foreign direct investment report from EY that Scotland, outside London and the south east, is the best performing part of the UK.

Mr Begbie also pinpointed opportunities in renewables, a strong higher education sector and a warmth felt towards Scotland from overseas markets.

Zehrid Osmani, portfolio manager at Martin Currie Global Portfolio Trust, part of Franklin Templeton and one of the conference sponsors, told delegates there were three “mega-trends” when it came to long-term structural growth opportunities. These were the future of technology, demographic change and resource scarcity.

Chloé Darling-Stewart, investment specialist manager at Baillie Gifford, also a conference sponsor, said of the UK: “Our home turf provides some of the most compelling investment opportunities in the world.”

Sandy MacDonald, executive director, impact at the Scottish National Investment Bank, another conference sponsor, said part of his organisation’s role was to take risks to “catalyse investment where it’s needed”.

Drawing the conference to a close, Employment and Investment Minister Tom Arthur said: “We’re clear that Scotland is open for business and open for investment. Scotland boasts a thriving investment eco-system awash with opportunities courtesy of the vast natural resources we have, alongside the calibre of our innovative, young and scaling companies.”