Summit will showcase Wales to international investors

The First Minister Eluned Morgan will meet multinational businesses and investors at the International Investment Summit in London today.

The Summit is the UK Government’s flagship investment event, bringing together 300 industry leaders to discuss investment and showcase the strengths that exist across the UK nations. The First Minister will meet current and prospective investors to Wales at the Summit.

Wales is home to 1,480 foreign-owned companies, employing almost 175,000 people, including in growth industries such as compound semiconductors, fintech, cyber security, marine energy, next generation manufacturing and life sciences.

Wales has seen major overseas investments announced recently. Last month, Turkish conglomerate Eren Holdings announced a £1 billion investment which will secure 300 jobs on Deeside, with support from the UK and Welsh Governments. Earlier this month Kellanova, the American multinational which produces Kellogg’s breakfast cereals, announced a £75 million investment which will create 130 new jobs in Wrexham.

First Minister Eluned Morgan said:

“Inward investment plays a critical role in Wales’ economy and supporting my government’s ambitions for growth. The impact overseas investment has on our economy is profound, generating higher wages, better productivity and greater  investment in research and development.

“We’ve seen some really exciting international investments into Wales in recent weeks, and I want to keep those investments coming into all parts of Wales, leading to long term growth and job creation. 

“It’s vital we seize every opportunity to attract investment into Wales. I will be doing all I can as First Minister to meet with key industry decision-makers and promote Wales as a fantastic destination for investment.”