Glasgow is one of five bids to become one of two green freeports to be created in Scotland, under a scheme agreed by the Scottish and UK Governments.

Freeports offer special tax incentives and lower tariffs for areas around airports, seaports and rail terminals.

Glasgow region has put in a bid with Glasgow Airport, Mossend Freight terminal and Peel Ports which owns the King George V Dock and other land along the River Clyde.

READ MORE: Clyde Green Freeport: Glasgow in bid for freeport status with air, rail and sea plan

If successful, it is thought the status will attract major new investment to Glasgow City Region, develop global trading opportunities and create tens of thousands of new jobs.

The five bids are: Clyde Green Freeport, Aberdeen City and Peterhead Green Freeport, Opportunity Inverness and Cromarty Firth, Firth of Forth Green Freeport and Orkney Green Freeport.

Neil O’Brien, the UK minister for Levelling Up and the Union, said: “I’m delighted that our proposal to establish two green freeports has received five strong bids from ports right across Scotland.

“Now, in partnership with the Scottish Government, we will review the applications and decide which two proposals will become green freeports – hubs that will support a net-zero economy in Scotland and bring hundreds of jobs to the successful areas, backed by £52m in UK Government funding.

“I look forward to announcing the successful green freeports later this year and seeing them deliver for the people of Scotland.”

Scottish secretary Alister Jack added: “We are well on our way to establishing two Scottish green freeports with five bids received.

“We will now carefully assess the bids to decide which two ports will become Scotland’s green freeports.

“UK freeports are a key part of the UK Government’s Levelling Up strategy – they will bring innovation, high-quality jobs, prosperity and regeneration for the benefit of the whole of Scotland.”

Holyrood fnance secretary Kate Forbes said: “I’m pleased to see a range of bids come in from across the country to become a green freeport.

“We expect green freeports to promote regeneration in the areas selected, create high quality jobs and enhance our decarbonisation plans in the just transition to a net-zero economy.

“We will now jointly assess and decide on the winning bids, following the rigorous process set out in the agreed joint prospectus in which each government has an equal say.

“Further details of the successful applicants will be set out in the coming months.”