Investment
Scotland’s business environment is very much supportive of growth for basic chemicals companies investing here.
Investment potential and opportunities in basic chemicals in Scotland
Growth opportunities exist in areas such as:
- Teaching and training
- Basic organics and industrial gases
- Plastics and rubbers
The basic chemicals sector is recognised and supported as a key element of Scotland’s economy. At present, UK imports of basic chemicals exceed exports by £2.5 billion, offering opportunities for import substitution.
Scotland’s basic chemicals sector benefits from an established and highly skilled labour force. Extensive training programmes are in place with relevant chemical sciences subjects being taught within Scottish universities.
Significant academic research is currently being carried out, particularly in the fields of plastics and rubbers.
Scotland is recognised internationally for its positive business environment, and the country benefits from a very strong pro-competition culture and a supportive political and regulatory administration.
Over the last decade, Scotland has performed well in the Financial Times fDi (Foreign Direct Investment) magazine’s annual awards. It was named ‘European Region of the Future’, in 2008/09, based on a panel of judges' assessment of criteria such as:
- Economic potential
- Cost effectiveness
- Transport
- Human resources
- Telecommunications and IT infrastructure
- Quality of life
- Security
Basic chemicals in Scotland form part of the world’s largest chemicals industry, the EU27.
Of the 26 manufacturers that make up the Scottish basic chemicals sector, 16 are inward investors. A further six companies operate across several chemicals sectors.