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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

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Airbus A380 wing in production at Broughton
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.

Published 24 July 2013