Question to the Wales Office:

To ask the Secretary of State for Wales, what discussions he has had with representatives of international businesses on inward investment into Wales; and if he will make a statement.

I regularly meet a range of stakeholders to discuss investment opportunities in Wales. Most recently I met with the Qatar Investment Authority in Doha, to discuss opportunities for Wales. I have also had meetings with representatives from companies like Ciner Glass and the Eren Group about their investments in Wales.

Wales has already seen the benefit of inward investment, with 43 new foreign direct investments in the 2021-2022 financial year, creating around 1,800 new jobs. Furthermore, the Department for International Trade’s dedicated Wales team has ensured Wales’ investment opportunities are promoted at the UK’s flagship international investment events, such as the recent Green Trade and Investment Expo in Gateshead and through opportunities for Wales as part of the GREAT campaign.

The UK Government is committed to supporting key sectors in Wales, while also creating an environment where businesses of the future can thrive, and inward investment is critical in this. Our Freeports programme has the potential to help Wales compete for global investment and trade, and further enhance Wales’ ability to attract investment and new businesses. The UK’s Free Trade Agreements will also bring new investment opportunities for Wales.