Share

Nissan Deal Won’t Persuade Other Companies To Invest, Warns Top Business Guru

A top business guru has warned that Nissan’s decision to expand in the UK will not persuade other companies to invest.

Kenichi Ohmae told BBC’s Newsnight the car company was a “special case” and that he didn’t think others would follow suit on its “very very minor” decision to expand in Sunderland.

Nissan’s announcement it would build two new models in the UK had been hailed by the prime minister as “a vote of confidence” which “shows Britain is open for business.”

The Business Secretary said that the Nissan deal was sealed after Government promises to seek no tariffs on trade for the UK car industry following Brexit.

But Ohmae, who originally advised Nissan to set up in Britain in the 1980s, said the Government was not in a position to make promises about trade conditions after Brexit, and that other companies should “hold” on decisions.

“With the final picture of the UK uncertain I will advise them to hold until the course is clear and until the conditions of Brexit is worked out, not only by what the UK government says, but what the European Union says”, he told the programme.

Article source: http://www.huffingtonpost.co.uk/2016/11/01/companies-will-not-follow-nissan_n_12755780.html?utm_hp_ref=uk-politics&ir=UK+Politics