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Welsh Development Agency

Answer

The re-establishment of a Welsh Development Agency is a matter which falls within the remit of the Welsh Government. The Wales Office is heavily engaged in supporting a coordinated approach toward investors between UK Government, Welsh Government, Corporate Joint Committees, and local authorities in Wales.

In 2024-2025, 65 new Foreign Direct Investment projects in Wales created 2,470 new jobs - an increase of 30% on the previous year in terms of new jobs created. Wales now lands nearly 5% of all inward investment projects in the UK, up from 3.4% in 2023/2024. The Wales Office recently launched a new programme of activity which will further improve coordination of how Wales is marketed to the world.

Economic Growth is the number one mission of this Government and our Industrial Strategy is delivering that for Wales – from Freeports and Investment Zones, to Artificial Intelligence (AI) Growth Zones and a Defence Growth Deal, we are creating the right conditions for business to grow and export, creating jobs and opportunities across Wales.

Secondary information

Type

Written question

Reference

HL15422

Session

2024-26

Subjects

Welsh Development Agency

Link

View this Written question on www.parliament.uk