Hong Kong terminal operator Hutchison Port Holdings, which operates the UK Port of Felixstowe, has submitted its bid to develop a freeport zone at the port area.
[s2If is_user_logged_in()]The closing time for the submission of bids to develop freeports within the UK is set for midday on 5 February with decisions on the successful bids set to be announced by the treasury in the spring.
Felixstowe’s bid, Freeport East, is a collaboration between the port, businesses and local government and is backed by the New Anglia and South East Local Enterprise Partnerships.
According to the bidding document the Freeport could create 13,500 jobs in eastern England, attract in excess of £500 million (US$686.54 million) in investment and give a £650 million (US$892.54 million) boost to the UK’s economy.
Growing global trade and the proximity of the deepsea port at Felixstowe, with the nearby shortsea terminal at Harwich gives industry an opportunity to develop new industries, such as is required for the green industrial revolution, allowing companies to export goods and drive economic growth.
George Kieffer, Chairman of the Project Board, offered a poetic, if somewhat optimistic view of the development, “Just as the sun rises in our region before it spreads across the UK, so Britain’s future starts at Freeport East.” He added, “This is a golden opportunity for our towns, regions, and ultimately our country to prosper.”
Clemence Cheng, MD of Hutchison Ports Europe, added that Felixstowe’s location meant it is “Uniquely placed to deliver on the Government’s objectives for Freeports, to provide hubs for global trade and investment, promote regeneration and create hotbeds for innovation. We connect exporters across the UK with markets worldwide and the economic benefits of our truly global Freeport will be felt in all regions.”
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