Select committee: Welsh Affairs Committee
Conclusion 10
1st Report - Promoting Wales for Inward Investment
Published 27 May 2026
Addressed to Wales Office
Welsh Affairs Committee Promoting Wales for inward investment All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
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 so, the agency must co-ordinate with the UK Government to have the greatest impact on delivering inward investment for Wales. This Committee believes that establishing an investment agency would signal to investors that Wales is open for business, improve investors’ experience of investing in Wales, and provide the tools to tackle the challenges that face investment promotion in Wales. (Conclusion, Paragraph 82)
From: Welsh Affairs Committee, 1st Report - Promoting Wales for Inward Investment (HC 136), 27 May 2026
Government response
The government responded to the whole report on 15 September 2026 (deadline 27 July 2026).
Summary written by Accountability Index from the government's response. It is not the government's own words.The government welcomes the Committee's conclusions but does not agree two recommendations (a Wales Office annual inward investment report and publishing overseas investment enquiries), and agrees or accepts others 'in principle'.
- On a Wales-specific annual inward investment report, the recommendation is not agreed: DBIST statistics already include a breakdown by UK nations, so "an additional report by the Wales Office is not required".
- On publishing overseas investment enquiries, the recommendation is not agreed. The government does not consider a summary "sufficiently meaningful" because enquiries vary in quality, maturity and strategic value.
- On intergovernmental groups, it agrees in principle. The next meetings of the Trade and Business and Industry groups are scheduled for October 2026, with later meetings held "on a regular basis".
- On an investment promotion agency, it accepts in principle. DBIST and the Wales Office "will consider specific working arrangements" once the Welsh Government's policy direction is fully set out.