In November I had the welcome opportunity to spend two days learning, discussing and thinking through the likely directions for new industries we may see in the South West.
It was a good conference, with high-calibre speakers and good networking opportunities. Here are just a couple of quick samples.
Three Consuls-General
On the third day of Christmas…
No, seriously, we did have the WA Consuls-General for the UK, USA, and Republic of Indonesia all on stage for a panel discussion of international collaboration involving the South West. Fascinating.
The American C-G told us that Royal Australian Navy personnel are already embedded with US Navy submarine sustainment crews, and teaching them a thing or two about Aussie ingenuity, apparently. This of course is in preparation for the AUKUS program. You may like it or you may like it not, but defence is projected to become WA’s biggest industry after iron ore. We should have a clear-eyed, inclusive discussion of the opportunities and risks, and how to respond to them as a society, is my view.
The Brits are all over hydrogen – as an alternative to Russian natural gas, is my guess. The C-G took the opportunity to launch a comprehensive report dissecting how their expertise in H2 generation, storage, transmission and use can be combined with our sunshine and open space to create a new export industry. The hydrogen economy is advancing rapidly in the wide world (look at Japan), and we should remember that the energy transition is going to change pretty much everything. We could be shipping hydrogen (or ammonia) to Britain to help them keep the lights on.
The C-G for Indonesia spoke about her country’s desire to tap into our expertise to help them develop their economy; and reminded us that we can also learn from them. She urged humility and reciprocity in the relationship, and I can only agree whole-heartedly.
Aberdeen
Aberdeen has lost the North Sea oil industry that made it a boom town for so long. When I was there in the early 80s, you could hardly get a room for the night because everything was booked out by rig and support personnel. The fishing fleet could hardly get a berth in their own harbour for the number of supply and maintenance vessels.
Then the music stopped. We should remember that in WA: the music always stops.
The CEO of the Aberdeen & Grampian Chamber of Commerce, Russell Borthwick, took us through how local business and government are responding. A net zero centre of excellence, offshore wind energy, extending the rail network, new harbour, revitalising the town centre. Their aim is for NE Scotland to be the best place to do business. By that they mean: “[T]he most productive region of Scotland, the most enterprising part of the UK and among the most globally attractive prospects for inward investment.”
We should watch and learn.
Over to You
Are you exploring opportunities in the energy transition, or in defence? Seeing a chance for your industry to be part of an Aberdeen-style reinvention? Or just wondering how this all might impact your business? The business landscape is changing around you. Give us a call, let’s discuss how our strategy practice can help you adapt and thrive, build in resilience, and uncover new markets.