The problem selling Wales

By Graham Fahy

Wales is too small to successfully attract investment on its own, an influential committee of MPs has concluded.

A Commons Welsh Affairs Committee said the abolition of the Welsh Development Agency reduced Wales’s visibility in the global market place, with investment opportunities being missed due to the lack of a dedicated trade promotion agency.

"Wales is now one of the worst performing areas in the UK in terms of attracting inward investment," said David Davies, committee chair.

"The Welsh government must realise that it cannot work in isolation, and must work effectively with the UK government, using the advantages it has in terms of networks and resources, to improve the long-term prospects of the Welsh economy."

The report concluded that Wales does not have sufficient resources to work alone in attracting inward investment and suggested a dedicated trade promotion agency should be installed within the Welsh government or as a private sector vehicle.

The committee highlighted the commitment and loyalty of Welsh workers and the success of Wales in attracting highly technical aerospace, life sciences, steel and automotive industries.

It also found the region's coast, countryside and rich cultural history contributed to a quality of life investors found attractive.
 

Political news to your inbox

Fill in your details to receive Politics.co.uk's brand of informed, in-depth and independent coverage of Westminster to your inbox

Hot topics

Britain's great energy debate

How the power gets to Britain's homes in the next century remains a matter of deep controversy

As the next general election begins to loom over the horizon, the debate over Britain's future energy policy mix is starting to hot up - and nothing seems guaranteed.

The Heathrow third runway debate

Heathrow's third runway is just one of many options

There won't be a final decision on Britain's long-term aviation strategy until after the 2015 general election - but an aggressive national debate is already underway.

Opinion Former Events

MRSA Action UK Annual Memorial Event

Families will pay tribute and remember those lost to MRSA and healthcare associated infections at Westminster Abbey on Thursday 13th June 2013

BSIA: Information Destruction Exhibition & Conference 2013

Following the great success of the BSIA's Information Destruction Conference and Exhibition in May 2012, we are pleased to annouce that the event is returning again in June 2013. This one-day conference and exhibition is aimed at key decision makers in organisations that carry out the secure destruction of confidential material.