Addressing the Investment Association Conference in Edinburgh, Deputy First Minister Kate Forbes announced she will take on a cross-government leadership role as the Scottish Government’s “investment champion” to deliver a national pipeline of strategic investment opportunities and a seamless, co-ordinated approach to building relationships with investors and developers.

Practical steps being delivered include an Investment Unit to identify and tackle barriers to investment; the creation of a single portal for investment inquiries (investment.finance@gov.scot) and another detailing investment opportunities; and a new Cabinet sub-committee to co-ordinate activity.

The Scottish Government will also explore new financing models including how public sector guarantees could be used, a potential Scottish Bond, and public-private partnerships.

Ms Forbes said: “We know that investment management is a strategically vital sector, employing 125,000 people and managing over £9 trillion.

“And we’re proud that Scotland more than punches above its weight. Edinburgh is the UK’s second largest centre for asset management, managing some £490 billion, and the Scottish industry employs over 13,000 people.

“And what I love to see is that footprint continues to grow. For example, I am pleased that Blackrock will soon be moving to larger premises in Edinburgh and significantly increasing headcount. I want that trend to continue.

“But my interest in the sector is not only as a provider of highly skilled and well-paid jobs – important though as that is. My interest, is to secure more investment, including the investment that your organisations manage, into Scotland.”

She continued: “Increasing the level of private investment into Scotland’s economy is essential to our ambitions – for growth, for jobs, for reaching net-zero, and for improving our public services. Without investment and the growth it can catalyse, we can achieve none of those goals.

“I will be working to tackle barriers and blockers; and to ensure that the system as a whole works cohesively, effectively, and quickly, to support investors and to deal with issues as and when they arise.

“Scotland has the talent, skills and resources in abundance to be a major player in the energy transition and secure a prosperous and sustainable future. We need to work better, smarter, and quicker to ensure that we can create an investor-friendly environment and seize the many opportunities which lie ahead.”