A CHINESE proverb that I have referred to before says: “May you live in interesting times.”

These are undoubtedly interesting times, and with the election of the first coalition Government, a recent change in Labour leadership and a plethora of other changes in respect of the local economic partnerships, consultations on business support and the forthcoming comprehensive spending review, the NECC has never been more active on your behalf than during the past six months.

Change creates uncertainty and this can currently be seen within the public sector, where significant cuts are expected, and in other sectors where orders are being delayed.

Change can also, however, create opportunities.

As a “region” (a phrase that is unpopular with some) we are being told that we must move towards a more balanced economy.

It is pleasing, therefore, to see opportunities arising which, if realised, would help us to do so.

Hitachi has recently submitted a revised bid for the next generation of intercity trains which could potentially be built in Newton Aycliffe (for those who have yet to support this campaign please do so by going to northernecho.co.uk/news/campaigns/backontrack

SSI has signed the memorandum of understanding to buy Teesside Cast Products and Tag Energy is investing in facilities to manufacture sub-sea foundations for the offshore wind turbine industry.

This sector in particular seems to have a very bright future, but we must not be complacent as there is competition for this work from other parts of the UK and abroad.

It is interesting, though, to note that historically the “region” has been seen as a world leader in steel production, engineering and chemicals.

It therefore makes sense for all of us, in the business community and beyond, to back these opportunities.

I would therefore urge the Government to help this area rebalance its economy by actively supporting these and other similar projects.

These opportunities must be grasped if the North-East economy is to grow and remain a world leader in these fields.

■ Chris Beaumont is NECC’s Tees Valley committee chairman.