Report Issues Warning for Future Wales Inward Investment Decline

Cardiff Business Partnership today unveiled a report commissioned and undertaken by Cardiff Business School, Cardiff University, which demonstrated the need for Wales to be more competitive in terms of inward investment and for Wales to work together in positioning the country for future investment.

The Report outlines the roles of agencies in attracting inward investment .and recommends closer working between agencies in Wales; a need for key messages to be clear on the positioning of Wales; more efficient use of resources; and a need to change approach.

The Report recommends:

Development of a Stronger Welsh Brand

Improved remit for individual agencies

Consistency in policy beyond target sectors and improvement in responses to enquiries

Cardiff Business Partnership confirmed that it had met and had productive discussions with the Business Minister Edwina Hart

Chairman of Cardiff Business Partnership Adrian Clark said "Attracting Investment into Wales continues to be essential and selling Wales should be a team effort. Cardiff is a shop window but other Cities also play a big part. The Report brings together a number of strands .It is not all good news but it is important to that this Report is a line in the sand. We must support everyone from Government to a small indigenous business supplying a multi - national."

The Cardiff Business Partnership commended Dr Andrew Crawley of Cardiff Business School for the Report.

Roy J Thomas Director of the Cardiff Business Partnership said "We need to look forward. There is a consensus of opinion that we all need to work together .The Welsh Government has made decisions since the election in May last year - Business Enterprise Zones across Wales, progressive focused work on sectors and the recent office announcement in London. With others perhaps more interested in constitutional issues now is the time we should compete and look to other major trading countries and work hard on a programme of internationalisation. London is a major hub and the South East and Manchester on our doorstep but Wales can and should look further to North America and Asia."

Mr Thomas added" This is not only about Cardiff or inward investment - it about how Wales is perceived in international terms. It is not about indigenous versus inward investment or private versus public sector or north versus south. It is not only government or local authorities that have a duty to talk ourselves up but every citizen who wants to see Wales prosper".

Dr Andrew Crawley of Cardiff Business School appointed research fellow of Cardiff Business Partnership said "The study was unique in FDI research as it focused on those involved in carrying out the job. The report highlights the importance of coordinated activity. Within Wales today there are significant numbers of organisations tasked with bringing inward investment. We need to get those agencies working closer together to ensure a consistent message is being sent to the business world, that is that Wales is open for business."

Download a full copy of the report here.

Selling Wales: The Role of Agencies in Attracting Investment