Inventing our future Collective action for a sustainable economy

How do we get there?
Leadership, governance
and delivery
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Given the new prioritisation mechanisms such as LAAs and MAAs, alongside
the growing role of local authorities and local strategic partnerships in
economic development, sub-regions will want to review existing partnership
structures to ensure they remain fit for purpose and efficient.
Local and regional partners will want to ensure that appropriate, effective
and well-resourced delivery arrangements are in place at the sub-regional
and local level. This may build on successful sub-regional economic
partnerships and local delivery vehicles or seize the opportunities and
potential efficiency savings provided by new models such as economic
development companies or greater commercial involvement in the
delivery of economic development. Importantly, arrangements will vary
across the region and the focus must be on improving economic outcomes
and greater involvement of the private sector as the primary source of
growth in jobs and prosperity.
Leadership and delivery in the international arena
Looking forward, the world economy is likely to undergo radical
transformation within the timescale of the regional economic strategy,
with growth being driven by the improved performance of emerging
economies, such as China, India, Russia and Brazil. The East of England
and Greater South East can benefit from the growth of such economies,
as mass markets for goods and services, as partners in science in
innovation and as sources of highly skilled labour. However, it also means
that the region has to strive to increase our international activity and
deepen our relationships abroad.
The regional economy strategy therefore looks to achieve the following
key results:
• increased GVA resulting from international trade
• increased numbers of businesses exporting and collaborating
internationally and greater share of growing global markets
• increased foreign direct investment, built upon the East of England as
a global partner of choice for high value R&D and commercialisation.