ISHERWOOD: UK TOP BUT WALES BOTTOM OF UK NATIONS AND REGIONS FOR INWARD INVESTMENT PDF Print E-mail
Friday, 20 July 2012 08:13

 

NORTH Wales Assembly Member, Mark Isherwood, is concerned that a new European Commission report has revealed that Wales is bottom of the 12 UK nations and regions as a destination for foreign direct investments (FDI).

 

Mr Isherwood has asked the Minister for Business, Edwina Hart, why that is the case.

 

 

Speaking in the Chamber this week Mr Isherwood said: “When the UK was the top destination for inward investment in the European Union, and second top internationally in 1997, Wales was top among the 12 UK nations and regions. A new report from the European Commission Directorate-General for Enterprise and Industry confirms that the UK retained top destination position for foreign direct investment in the EU in 2011, and that investors expect further improvements regarding UK attractiveness over the next three years. Unfortunately, Minister, Wales is now bottom of the 12 UK nations and regions in terms of its position as a destination for inward investment. Why is that, Minister?”

 

The Minister replied: “The Welsh Government has this year secured a number of foreign investments, including the US-owned specialist outsourcer of administrative services, which has chosen Cardiff Bay as its European Centre of Excellence. These projects should boost Wales’s position when the latest UK Government foreign direct investment figures are published later this year”.

 

The European Commission Directorate-General for Enterprise and Industry Report States:

“The UK has retained top destination position for FDI in the EU in 2011….Attractiveness of the UK lies in the followings: quality of life, language, stable political environment, technology and transport infrastructure, stable social climate, education in trade and academic, entrepreneurial culture, access to skilled labour etc.”. 

It adds, however, that “Among the 12 (UK) regions, Wales (with 3 million inhabitants) proved to be last one in attracting foreign direct investments (FDI in 2011). Wales saw the biggest decline in FDI projects in 2011, with its share of overall UK projects falling to 1.3%, compared to 9% in its most successful year in 2003”.

 

Promoted by Mark Isherwood AM at National Assembly for Wales, Cardiff Bay, Cardiff, CF99 1NA

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