Developers must now find Chinese companies willing to invest

Planning permission has been secured, but the Irish developers behind the International Trading Hub now face the task of convincing a massive number of Chinese companies to invest in the Athlone facility. The original planning application included a report by Goodbody consultants which was commissioned by the developers and completed in March 2011. This report discussed the economic potential of the project and said the main 'sales drive' in China would not begin until after planning permission was granted. The report said that the best indicator of interest from Chinese companies at that stage had come from a survey commissioned by the promoters. Goodbody said the results of this survey implied that if the (project) was completed successfully and in a timely manner, if it did not face excessive competition from other sites, and if the promoters were "able to successfully contact the potential customers and sell the concept of the (Creggan trade hub) to them... then it will be possible to secure at least 3,000 investors and the full project will be occupied and used if it is constructed." However, this report also indicated that no investors had yet been secured, as "the promoters believe the best time to start their main sales drive is after the grant of planning permission" and as a result "the promoters are not yet in contact with a large group of prospective cusomers." Goodbody said this meant it was "not possible to validate the economic sustainability of the project based on sales, or communications with prospective customers, as yet." The report said the promoters had commissioned market research from a Hong Kong-based company called 'Customer Search'. This company contacted 300 small and medium Chinese manufacturing firms that currently exported their goods, and explained the concept of the Creggan trade hub to them. Some 51% of the companies contacted said they would be 'likely' or 'very likely' to purchase a concession at the trade hub. Goodbody's report said the project could generate "significant and much-needed economic activity," while giving potential importers of Chinese goods a chance to meet representatives of Chinese manufacturers without having to travel to China.