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Wales investment summit spotlights £16bn pipeline amid economic challenges

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HUNDREDS of global business leaders gathered today (Dec 1) at the International Convention Centre Wales and Celtic Manor Resort for the inaugural Wales Investment Summit – the largest event of its kind in Wales since the 2014 NATO Summit.

First Minister Eluned Morgan described the summit as a “pivotal moment” to showcase Wales’ economic potential, with more than 300 delegates from twenty-seven countries hearing pitches on high-growth sectors including AI, semiconductors and clean energy. Around one hundred and fifty of the attending firms are new to Wales.

Tour de France winner Geraint Thomas and broadcaster Alex Jones appeared at sessions throughout the day, adding a distinctly Welsh touch to a high-profile programme led by Morgan and UK Chancellor Rachel Reeves.

£16bn pipeline and major job pledges

Since announcing the summit in August 2024, Morgan said Wales has secured investment commitments worth £16 billion. The largest is a £10 billion programme from Vantage Data Centers, which plans AI-driven data campuses across south Wales, including at the former Ford engine plant in Bridgend. The project is expected to create several thousand jobs over the next decade.

A further £4.6 billion in pledges was unveiled last week, including:

  • £2.5 billion for the Wylfa nuclear project
  • New investments from Rolls-Royce, Vishay, Stena Line, Boccard and Bute Energy

Today’s discussions also followed the UK Government’s recent confirmation that Wylfa will host Britain’s first small modular reactors (SMRs). Construction and operational phases are forecast to support up to 3,000 jobs.

Two “AI Growth Zones” – one across Anglesey and Gwynedd, and a second in south Wales – are projected to generate more than 8,000 jobs combined. The north Wales zone alone is expected to deliver over 3,400 jobs in research, data centres and training, leveraging power output from the Wylfa site.

Reeves confirmed a £10 million UK budget allocation to boost Newport’s semiconductor cluster, emphasising cross-government cooperation.

The summit also highlighted a milestone for the Development Bank of Wales, which has now invested over £1 billion since 2017, supporting 50,000 jobs and nearly 5,000 businesses.

Wales has delivered a 23% rise in foreign direct investment projects in 2024/25 – reaching sixty-five deals – alongside a 30% rise in inward-investment jobs. Wales retains the highest manufacturing share of GDP in the UK at 15.6%, compared to the national average of under ten per cent.

A tough international landscape

The upbeat messaging comes against a difficult global backdrop. UK-wide foreign investment fell to 853 projects in 2024, a thirteen per cent drop. Across Europe, FDI fell by five per cent – the lowest level for almost a decade – amid geopolitical instability, supply-chain pressures and falling manufacturing investment.

Although Wales’ twenty-three per cent rise in project numbers mirrors UK-wide trends, much of the headline £16bn relates to long-term pipelines rather than near-term spending. Several flagship schemes, including Wylfa and the AI zones, rely heavily on public subsidy, with hundreds of millions committed by both the Welsh and UK Governments.

Structural challenges persist

Despite strong announcements, Wales continues to face stubborn economic gaps. Gross value added per head stood at £29,316 in 2023 – around 85% of the UK average. Total Welsh GVA reached £81.5 billion, showing little real-terms growth.

Economic inactivity remains the highest in Great Britain at 24.1% of working-age adults, driven largely by long-term sickness. Average full-time weekly earnings in Wales are £634, compared to the UK figure of £682.

There are also concerns over regional imbalance. South-east Wales continues to attract the majority of major investments, leaving parts of north and west Wales – including Anglesey – vulnerable without wider rail, digital and skills upgrades.

Opposition: ‘Late in the day’

Opposition parties welcomed new jobs but criticised Labour’s economic record.

Plaid Cymru’s Heledd Fychan said many announcements were “late in the day” after “over two decades” of Labour governance, and called for a streamlined “one-stop shop” for business support. The party previously dismissed the summit as a “gimmick”.

Welsh Conservative leader Darren Millar said the focus should be on “lower taxes and less bureaucracy”, accusing Labour of “hamstringing” the Welsh economy with regulation since 1999. Shadow economy secretary Samuel Kurtz urged investment in “world-class skills” and real support for small firms.

With Senedd elections set for May 2026 – and Labour still absorbing the shock of losing the Caerphilly by-election to Plaid – political scrutiny of the summit has intensified.

Looking ahead

Morgan told delegates: “This summit is the culmination of months of work. Welsh Labour means business and is investing in our economy and jobs for the future.” She said Wales must focus on “growth with purpose”, ensuring high-skilled roles spread opportunity across every region.

Economy Secretary Rebecca Evans added: “Wales is at the forefront of industries that will define the next decade. We’re ready to turn conversations into commitments.”

As delegations continue discussions, the long-term test will be delivery. With £16 billion in pledges and thousands of jobs at stake, Wales faces a decisive question:
Will this investment help close long-standing economic divides – or deepen them in an already fragile global economy?

Business

Teenage stylist to open new Brushed Hair Studio at Milford Marina

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One-to-one salon experience promised after full renovation of former Bloom premises

A TEENAGE hairdressing entrepreneur is set to open a new-look salon at Milford Marina next week, after transforming the former Bloom Hair space into what she describes as a more personal, one-to-one studio experience.

Amelia Elise Nicholas, 19, will reopen the premises as Brushed Hair Studio on Monday, January 19, after weeks of renovation work at Temeraire House on Nelson Quay.

Originally from Swansea, Amelia moved to Pembrokeshire three years ago in search of a quieter pace of life and a fresh start. Since then, she has trained locally and built up a growing client base in Milford Haven.

She completed her training at HB Training in Haverfordwest before working from Bloom Hair as a self-employed stylist, renting a chair from salon owner Tegan Banner.

Now three years into her hairdressing career, Amelia is taking the next step by launching her own studio in the same location, saying she wanted to create a calmer, more tailored service for clients.

Bloom closed at the end of December and Amelia has spent the weeks since gutting and refitting the space.

“We have gutted the building and put in new lighting, flooring and furniture,” she said. “It looks completely different.”

With support from her dad, Amelia has redecorated throughout, opting for a neutral, calming palette with natural textures and finishes, alongside pops of colour.

Brushed Hair Studio will offer cuts, colours, extensions and curly blow dries, which Amelia said have become increasingly popular locally.

“They are really popular here,” she said. “There is only me and one other girl doing them.”

The salon will use products from Australian brand Original Minerals for colouring and styling, which Amelia described as “clean and kind”.

In a change of roles, former Bloom owner Tegan Banner will now rent a chair from Amelia at the new Brushed Hair Studio.

“I want to thank Tegan,” Amelia said. “She offered me to take over the building and has trained me and helped build my clientele up.”

A private, invitation-only opening event will be held on Saturday, with the salon opening to the public on Monday, January 19. Amelia said customers who visit on the first day will be offered a 10 per cent discount off their next appointment.

“It’s not much different to renting a chair and being self-employed,” she said. “You still have to do your tax and things. There’s not much difference apart from paying the rent.

“I’m proud to be launching a business that brings something fresh and exciting to the local hairdressing industry.

“As a young business owner, my goal is not only to build a successful salon but also to contribute to bringing more footfall, business, and investment into Milford Haven.”

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Business

Saundersfoot ‘traveller site’ plans set to be decided

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PLANS for a new ‘traveller site’ on the outskirts of a Pembrokeshire village, which has seen a petition of nearly 300 objections, and was previously refused by the national park, are again expected to be turned down.

Last May, members of Pembrokeshire Coast National Park’s development management committee refused a scheme for the creation of one traveller site incorporating one static caravan, one touring caravan, day/utility room and ecological enhancements (partly retrospective) on land at Froghall Yard, Moreton Lane, Saundersfoot.

The authority has served an enforcement notice on the site, which requires its return to its previous condition.

Nearly 300 people had signed a petition against the scheme and the objection to the application by David ‘Dai’ Evans of Pontypool, through agents Hayston Developments & Planning Ltd, was also shared by Saundersfoot’s community council.

Members had said granting permission “would be gross overdevelopment setting a precedent for development literally anywhere throughout the national park”.

A supporting statement accompanying the application stated: “The applicant belongs to a long-standing Romany Gypsy family and generations have lived a traditional and cultural lifestyle living in caravans all their lives.

“Mr Evans and his partner currently reside on an overcrowded Traveller site in Pontypool where living conditions are poor. They currently only live in rented accommodation and its brick and mortar and not in keeping with their cultural preference, as they prefer to live in a caravan.”

It said Mr Evans and family have stayed in a touring caravan at the site during the summer months since the late 1980s when it was owned by another gypsy family, later purchased by Mr Evans in 2023, clearing and refurbishing the site.

The application was refused on the grounds it was considered to result in unacceptable landscape impacts, a lack of information on whether the proposal will unacceptably disturb species and habitats within the countryside, and it “would introduce caravan development in an area of the National Park without landscape capacity, resulting in unacceptable cumulative impacts”.

The application has now been resubmitted, which is recommended for refusal at the January 28 meeting of Pembrokeshire Coast National Park’s development management committee.

Agent Hayston Developments & Planning Ltd says the application “is significantly improved and offers new extensive mitigation and net biodiversity gain,” and “is fully in accordance with the requirements in terms of sustainability, access, will not cause significant visual intrusion and is sensitively located within an area surrounded by natural vegetation”.

Saundersfoot Community Council has unanimously objected to the latest plans and 48 objections covering a wide range of concerns have been received, including one from a planning agent on behalf of a group of local residents, and one of 12 residents

The application is recommended for refusal on the grounds its has “resulted in unacceptable landscape impact on the National Park and potentially disturbed species and habitats within the countryside,” it “fails to demonstrate that impacts on otters and the integrity of the Carmarthen Bay and Estuaries Special Area of Conservation would be avoided,” and the proposal “would introduce caravan development in an area of the National Park without landscape capacity, resulting in unacceptable cumulative impacts”.

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Decision on plans to turn historic schooner into mini golf bar expected soon

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PLANS for a mini-golf tourist attraction on part of a Pembrokeshire seaside village family venue are expected to be approved by the national park later this month.

In an application recommended for approval at the January 28 meeting of Pembrokeshire Coast National Park’s development management committee, Lowri Silver of Kilgetty, seeks permission for a change of use of the ground floor area of Saundersfoot Harbour’s Coastal Schooner to an indoor mini golf tourist attraction.

The schooner – a prominent feature on the village’s National Events Deck – was built to showcase Saundersfoot’s maritime heritage and is part of the £10m Wales Coastal Centre project.

The building is a replica of a traditional coastal schooner vessel which operated from the harbour during the coal mining era to transport coal from Saundersfoot.

The interpretation centre closed in October 2024.

Last July, an application by Jonathan Thomas of ‘Schooner’ for a pirate-themed bar at the site was refused at the national park development management committee.

That rum bar scheme had raised concerns from the community council, saying it was “considered to be at odds with the current family venue and heritage elements”.

An officer report recommending refusal said that scheme was considered to fall outside the seaside village’s defined retail area and the impact on the amenity of the area and especially nearby residential dwellings.

At that meeting, Cllr Alec Cormack, one of the local county councillors, and member of the community council, called for a more family-friendly scheme for the site.

A supporting statement accompanying the new application says: “The maritime theme will be maintained as the attraction will maintain many of the existing interpretation information and the maritime theme.  The Schooner operated as an interpretation centre and high ropes offer for a year from October 2023 to October 2024.

“It has been open through the summer of 2025 on Tuesday and weekends. However, it has proved not to be a viable option to run the Schooner as an interpretation centre alone and an additional use is sought to maintain the interpretation element of the Schooner and to offer an all-weather attraction for local people and residents alike.”

It added: “The proposal will allow for the Schooner to be maintained and be open to the public thus protecting and enhancing the community facilities to meet the needs of local people and visitors alike. The proposal would also sustain the future of the interpretation element of the Schooner which in turn will protect and enhance the harbour, which is one of the key attractions in Pembrokeshire.”

The latest proposal is “strongly supported by Saundersfoot Community Council, particularly regarding the provision of an indoor family attraction; this was a unanimous decision,” a report for committee members recommending approval says.

It adds: “The proposed works will apart from planters, be fully contained within the existing structure and provide an indoor facility for residents and visitors, which is considered to enhance the visitor economy of the area, not just through the tourist season but also outside of the peak season, with the facility being an indoor facility with scope for all year-round operation.”

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