Inward investment, a term often used interchangeably with Foreign Direct Investment (FDI), refers to cross-border investment from one country to another and which aims to establish a lasting interest and effective voice in an enterprise. In FDI statistics, an effective voice means owning 10% or more of the equity share capital in an enterprise. The … Show more
| Title | HC No. | Published | Items | Response |
|---|---|---|---|---|
| 1st Report - Promoting Wales for Inward Investment | HC 136 | 27 May 2026 | 15 | Overdue |
We welcome recent inward investment results that suggest Wales is returning to a more competitive position in comparison to the other UK nations. However, these headline figures cannot be cause for complacency. Lower value-added investment and a reliance on investment from Europe means Wales may be vulnerable in future to … Read more
Data must be accurate, accessible and comparable to enable governments, policymakers and investment stakeholders to make the best decisions about promoting Wales for inward investment. Neither the UK nor Welsh governments are currently providing comprehensive analysis of Wales’ inward investment results. (Conclusion, Paragraph 42) Read more
The Wales Office should work in conjunction with the Department for Business and Trade and the Office for National Statistics to produce an annual Wales-specific report on inward investment results and trends for Wales. This should include the sectoral composition of inward investment in Wales and provide a comparison with … Read more
Wales is a strong and distinctive investment proposition, thanks to a strong pool of talent in key sectors, world-leading university research, its geopolitical stability, and capacity to work at pace and in collaboration with the UK and Welsh governments. (Conclusion, Paragraph 54) 33 Read more
No amount of promotion can overcome fundamental challenges with the business basics, so we therefore encourage the UK Government and incoming Welsh Government to continue to work together to deliver vital improvements to Wales’ infrastructure. We will continue to monitor how the UK Government invests in reserved infrastructure in Wales … Read more
Data about Wales investment enquiries generated by DBT officials overseas and transferred to relevant partners is not being monitored or published. This makes it impossible to assess how the UK Government’s overseas network promotes Wales for inward investment. It is important that DBT demonstrates how its overseas offices deliver for … Read more
The Department for Business and Trade should publish a summary of the investment enquiries generated by its overseas network as part of its annual inward investment results. The summary should be broken down to a UK nation level. (Recommendation, Paragraph 67) Read more
It is disappointing that intergovernmental infrastructure does not appear to be being used to support inter-ministerial collaboration on inward investment, as a key growth priority. Consistent engagement at a ministerial level between the UK and Welsh governments would provide clear political direction to departments about the importance of collaboration between … Read more
The Minister for Investment should engage with existing intergovernmental infrastructure to co-ordinate with Welsh Government ministers. Interministerial groups should be used to facilitate discussions about challenges as they develop and to agree solutions. We recommend that the next meetings of the Intergovernmental groups on Trade and Business and Industry take … Read more
There is strong evidence that an arms-length investment promotion agency for Wales would have a positive impact on attracting inward investment into Wales. The Committee recognises that establishing an investment promotion agency for Wales is in the gift of the Welsh Government. However, should the Welsh Government choose to do … Read more
We encourage the incoming Welsh Government to seriously consider establishing a dedicated investment promotion agency. If the Welsh Government establishes an investment promotion agency for Wales, the Department for Business and Trade must set out how it will work with the agency in a Memorandum of Understanding. DBT should do … Read more
The Welsh diaspora is an untapped resource that offers new and exciting opportunities to engage with emerging markets and strengthen the diversity of Wales’ inward investment profile in a distinctly Welsh and personal way. The UK Government should celebrate and better connect with a Welsh diaspora that is successful in … Read more
The Wales Office should develop and implement an investment-focused Welsh diaspora engagement strategy by summer 2027. The Wales Office should do this in conjunction with the Department for Business and Trade and in collaboration with the Welsh Government, to avoid duplication and to harness the strength of the UK Government’s … Read more
Clusters present an opportunity to showcase and communicate Wales’ strengths to prospective investors, and these valuable stories should be more consistently harnessed to promote a region’s advantages to investors. (Conclusion, Paragraph 101) 35
The Wales Office should lead work with the Department for Business and Trade to map Wales’ clusters and catalogue what they offer for prospective investors in sectors relevant to each cluster, such as R&D facilities and a robust supply chain. This map and catalogue should be regularly updated and provided … Read more
| Date | Witnesses | |
|---|---|---|
| 2 Feb 2026 | The Lord Stockwood · Department for Business and Trade at UK Government, Tim Newns · Department for Business and Trade at UK Government | View ↗ |
| 10 Dec 2025 | Andrew Gwatkin · Welsh Government, Liz Lalley · Welsh Government, Rebecca Evans MS · Welsh Government | View ↗ |
| 3 Sep 2025 | Andrew Carter · Centre for Cities, Dr Rhian Hayward MBE · AberInnovation, Howard Rupprecht · CSconnected Ltd, Russell Greenslade · CBI | View ↗ |
| 14 May 2025 | Joe Manning · MIDAS, Mark Hallan · Scottish Development International | View ↗ |
| 26 Mar 2025 | James Gardiner · Ernst & Young, Ken Poole MBE · Cardiff Council and Invest in Cardiff, Nan Williams · Four Communications, Professor Riccardo Crescenzi · London School of Economics and Political Science | View ↗ |
| 19 Mar 2025 | James Gardiner · Ernst & Young, Ken Poole MBE · Cardiff Council and Invest in Cardiff, Nan Williams · Four Communications, Professor Riccardo Crescenzi · London School of Economics and Political Science | View ↗ |
| Witness | Organisation | Sessions |
|---|---|---|
| James Gardiner · Senior Economist | Ernst & Young | 2 |
| Ken Poole MBE · Head of Economic Development | Cardiff Council and Invest in Cardiff | 2 |
| Nan Williams · Chair, GlobalWelsh, and CEO | Four Communications | 2 |
| Professor Riccardo Crescenzi · Professor of Economic Geography; Deputy Head of D… | London School of Economics and Political Science | 2 |
| Andrew Carter · Chief Executive | Centre for Cities | 1 |
| Andrew Gwatkin · Director - International Relations and Trade | Welsh Government | 1 |
| Dr Rhian Hayward MBE · Chief Executive | AberInnovation | 1 |
| Howard Rupprecht · Managing Director | CSconnected Ltd | 1 |
| Joe Manning · Managing Director | MIDAS | 1 |
| Liz Lalley · Director - Economic Policy and Strategy | Welsh Government | 1 |
| Mark Hallan · Director of Global Investment | Scottish Development International | 1 |
| Rebecca Evans MS · Cabinet Secretary for Economy, Energy and Planning | Welsh Government | 1 |
| Russell Greenslade · Wales Director | CBI | 1 |
| The Lord Stockwood · Minister for Investment | Department for Business and Trade at UK Government | 1 |
| Tim Newns · Director, Office for Investment | Department for Business and Trade at UK Government | 1 |
| Date | Direction | Title |
|---|---|---|
| 21 May 2026 | — | Correspondence from Scottish Enterprise relating to 14 May 2025 evidence sessio… |
| 11 Mar 2026 | — | Correspondence to and from Lord Stockwood, relating to the evidence session on … |
| 11 Feb 2026 | — | Correspondence from Lord Harrington, relating to the inquiry Promoting Wales fo… |
| 28 Jan 2026 | — | Correspondence from Rebecca Evans MS, dated 13 January, relating to the evidenc… |
| 13 Nov 2025 | — | Correspondence from Rhian Hayward dated 29 September relating to the 3 Septembe… |
| 13 Nov 2025 | — | Correspondence from Howard Rupprecht dated 29 September 2025 relating to the 3 … |
| 25 Jun 2025 | — | Correspondence from Ken Poole MBE to the Chair dated 16 April 2025 relating to … |
| 25 Jun 2025 | — | Correspondence from the Chair to Ken Poole MBE dated 08 April 2025 relating to … |
| 19 Jun 2025 | — | Correspondence from the Chair to Professor Riccardo Crescenzi dated 8 April 202… |
| 19 Jun 2025 | — | Correspondence from Nan Williams to the Chair dated 13 June 2025 relating to th… |
| 19 Jun 2025 | — | Correspondence from the Chair to Nan Williams dated 8 April 2025 relating to th… |
| 19 Jun 2025 | — | Correspondence from Professor Riccardo Crescenzi to the Chair dated 13 June 202… |