Columnist

Why now is the right time to invest in Wales

For the last two decades, Wales has proved itself as an international economic powerhouse. In the period 1990-2004, Wales received approximately 15% of the UK’s inward investment, and between 2012-2013, there was a 191% rise in the number of investments by foreign companies into the area.

These investments led to the creation of 2,605 jobs and safeguarding of 4,442 in the 2012/13 financial year. There are currently 700 multinational companies thriving in Wales, including Ford, Toyota, Airbus, GE, Dow Corning, and Panasonic.

This week, Minister Edwina Hart is set to visit Japan to promote Wales as a business investment location. Earlier this year, government officials visited the USA and Canada, resulting in the formation of major partnerships with Canadian firm CGI and US supplier Tenneco Walker.

Welsh Government is already being rewarded for its efforts in Japan, with the recent announcement of a contract between Japanese snack food company Calbee, inc, and Deeside Enterprise Zone, creating 100 jobs. The country will also been playing host to the UK Investment Summit at Celtic Manor in November.

The country is benefiting from investments across the board. In June, the Welsh Government launched the Wales Technology Seed Fund, providing businesses with equity investments of between £50k and £150k. One of the latest businesses to benefit from the Fund is Caerphilly start-up Nujed, a personalised online health and wellbeing platform targeted towards busy professionals. The start-up received £125k investment from the Fund, after launching a Seedrs fund to sell another £100k equity.

Furthermore, Wales is nurturing an entire generation of young people, with Cardiff University’s graduate-level employment rate at 78% - the 16th highest in the UK. Swansea University comes up closely behind with 77.3% graduate level employment, ranking 18th in the UK. With a wealth of prospective entrepreneurs and budding professionals, Wales has become a thriving hub for inward investment, both international and national.

The forthcoming UK Investment Summit is expected to bring the international spotlight to Wales. Business Secretary Vince Cable said: “Wales is already home to many successful companies. Some started here whilst others have come here to invest and grow.

“This conference provides a good opportunity to show Wales’ strengths as an excellent place to do business and one that is open to foreign investment.

“The government’s industrial strategy is giving businesses the confidence to invest over the long term, creating the type of high skilled jobs this country needs to thrive in the future.

“This will help create a stronger and fairer economy in Wales and the rest of the UK.”

There couldn’t be a better time to invest in Wales. Both inward and internal investment is on the increase, along with employment and educational opportunities for young people. The rest of the UK should take note: Wales has become a thriving hub for businesses of all sizes, with its sights set on continued economic growth.

This was posted in Bdaily's Members' News section by Just Ask Wales .