The First Minister Eluned Morgan has announced a conference to be held in 2025 with the intention of attracting additional investment to Wales. Eluned Morgan made the announcement in the Annual CBI Cymru Dinner last week (27 November 2024). It seems the conference is an attempt to align with UK Government policy to attract investment into the UK, following the International Investment Summit held in London in October.
Announcing the news, Eluned Morgan said:
‘I’m really pleased to announce next year’s summit, which will showcase Wales to global industry leaders and potential investors, highlighting the many opportunities and our strengths in key industries here in Wales.
Economic growth is a top priority for me and the Welsh Government will do what it can to support Welsh business and help attract even more investors into Wales. We’ve seen many exciting announcements in recent months, creating hundreds of jobs, and it’s vital we keep that momentum going next year.’
Secretary of State for Wales announcement
At the same event, Jo Stephens, the Secretary of State for Wales, announced that she would be launching a new economic advisory group. The aim of the Welsh Economic Growth Advisory Group will be to discuss calls that could influence the United Kingdom’s new Industrial Strategy to assist crucial industries in Wales.
According to a statement by the Welsh Office, this will be the first time representatives from business, education and industrial groups in Wales will help in developing cross governmental UK policy. Jo Stephens will chair the group and will include the following members:
- Alison Orrells, Chair, CBI Wales
- Dr Jenifer Baxter, Industry Wales
- Ben Francis, Wales Policy Chair, FSB
- Shavanah (Shav) Taj, Wales TUC General Secretary
- John-Paul (JP) Barker – Lead for West and Wales at PWC
- Jessica Hooper, Director, Renewables UK Cymru
- Kevin Crofton, Chair of Creo Medical
- Oriel Petry, Senior Vice President, Airbus
- Professor Paul Boyle, Universities Wales
- Sarah Williams-Gardner, Chair of Fintech Wales
- Sir Derek Jones, an independent adviser at Cardiff University and on the board of the King’s Trust in Wales, Keolis UK and IQE.
Jo Stephens said:
‘My new Economic Advisory Group will harness Welsh talent, ambition and creativity to usher in a new era of prosperity and growth for our nation.
We are forging a new partnership with businesses, workers and unions to drive growth and put more money in people’s pockets. This is about jobs for you, investment in where you live, opportunities for your children.
Working alongside the Welsh Government and our industry leaders we will rekindle Wales’s proud industrial roots with the jobs and industries of the future.’
The Welsh Economic Growth Advisory Group will start their work with a series of meetings over the next six months. The Chancellor Rachel Reeves is expected to present a Spending Review in Spring 2025 where we will be able to see if the groups aims have been realised.
