Wales Office Minister: ‘Wales again firmly on the map as leading destination for foreign direct investment."
Wales Office Minister Stephen Crabb has responded to the UK’s 2012/2013 Inward Investment Annual Report published today
Airbus A380 wing in production at Broughton
Wales Office Minister Stephen Crabb has responded to the UK’s 2012/2013 Inward Investment Annual Report published today (24 July) which show that Wales has recorded a 191% increase in foreign investment projects.
The Inward Investment Annual Report, published today by UKTI, confirms rises in the number of projects and jobs secured compared to 2011/12 and shows that the UK has continued to strengthen its position as the leading European destination for foreign direct investment.
Wales Office Minister Stephen Crabb said:
“Today’s figures are very encouraging and underline Wales’s growing reputation once again as a leading destination for foreign direct investment.
“From the commitment by HDM Steel Pipe to set up a factory in Cardiff, to the growing order book for Airbus wings made in Broughton, the growth in private sector activity is rebalancing the Welsh economy and helping to make it a great place to invest.”
“Today’s announcement is a real vote of confidence in the talent, expertise and skills of our workforce and will further enhance the UK’s reputation as a premier location for foreign investment.”
Note to Editors:
UKTI’s Inward Investment Annual Report can be accessed here: http://www.ukti.gov.uk/investintheuk/investintheukhome/item/553980.html
The report shows that in the last financial year:
The UK saw 1,559 investment projects secured – 11% more projects than the number recorded during the previous year. These projects are estimated to have brought with them 170,000 jobs – 51% higher than in the previous year. Of these, nearly 60,000 were new jobs and 110,000 existing jobs were safeguarded. UKTI and its partners were involved in delivering nearly 85% of the projects secured. Wales and Northern Ireland in particular have recorded significant increases in investment projects – 191% and 41% respectively Scotland registered a 16% increase in the number of investments. The number of FDI projects landing in England (excluding London) increased by 10% reaching 759 projects.