Inward Investment in Wales
HC 854-I, Eighth Report of Session 2010-12 - Volume I: Report, Together with Formal Minutes
- House of Commons - Welsh Affairs Committee
- TSO (The Stationery Office)
In this report 'Inward Investment in Wales (HC 854-I)' the Welsh Affairs Committee looks at how investment opportunities have been missed by the lack of a dedicated trade promotion agency. The abolition of the Welsh Development Agency (WDA) has reduced Wales's visibility in the global market place.
Nearly five years on, the WDA remains one of the most recognisable Welsh brands. The Welsh Government must urgently consider how it can be used to promote Wales's global identity.
The Committee argues for the establishment of a dedicated trade promotion agency, either within the Welsh Government or as a private sector vehicle. Such a body should have a mix of skills with an emphasis on private sector experience.
Wales does not have sufficient resources or networks to work alone in attracting inward investment. The Welsh Government must engage with politicians in the UK Government to maximise opportunities to attract inward investment to Wales and so improve the long-term prospects of the Welsh economy.
The UK Government and the Welsh Government must work together effectively, and work with education providers and industry, for the improvement of the Welsh economy and the Welsh people.
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