ONE of the North-East’s largest investors is assessing its future after the Brexit vote.

Hitachi Rail Europe, which employs more than 500 people at a trainbuilding factory at Newton Aycliffe, County Durham, previously warned an EU departure could affect regional investment.

Reacting to the referendum, Toshiaki Higashihara, president and chief executive at Hitachi Limited, said nothing had changed.

He added: “We will take our time to carefully assess the implications as these become clearer.”

Another major investor, Sunderland-based car maker Nissan, which also called for the UK to remain in the EU, has yet to comment.

Regional business leaders have given their reaction to the Brexit, urging the Government and Bank of England to stabilise the UK economy.

They also warned the North-East’s strong export market must not be damaged by snap decisions.

The North East England Chamber of Commerce said businesses, many of which have benefited from EU funding to expand, need assurances on finance streams and access to workers.

James Ramsbotham, chief executive, said companies in the area, whose sales have helped the region gain the UK’s only positive balance of trade on exports, are incredibly anxious.

He said: “We have an export record that is the strongest in the country and this must not be compromised.

“The Government must secure the best possible ongoing relationship with Europe and the rest of the world.”

The manufacturers’ organisation, EEF, reiterated ministers must negotiate a trading relationship with the single market, while the Confederation of British Industry warned against quick decisions.

Graham Robb, chairman of the North-East Institute of Directors, said bosses must react calmly and usher in a new trading era.

He added: “There are opportunities in the years ahead; the UK should promote widespread free trade with an international outlook, not retreat into any kind of isolation.”

Michaela Reaney, founder of Gradvert, which supports businesses to put in place graduate schemes and ongoing leadership training, said she was disappointed.

She added: "Brexit leaves a huge amount of uncertainty in its wake, which is already starting to impact strongly on financial markets and will have all sorts of ramifications in the immediate term.

"The UK is now out on a limb, and it will need to be more competitive and more effective if it is to continue to trade in Europe and beyond. 

"This will rely on talent, skill and high levels of productivity and employers who rely on overseas businesses will need to look critically at their skills base and ensure they are absolutely fit for the future, and ready to face the undoubted challenges that will lie ahead. 

"Critically, in the short-term, businesses will need leaders with the right skills and behaviours to engage their team and lead their business in uncertain times."