Business
Wales investment summit spotlights £16bn pipeline amid economic challenges
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
Wales joins Connect to Work scheme as millions invested to help people into jobs
A NEW employment support programme aimed at helping disabled people and those with health conditions find work is being rolled out across Wales.
The UK Government has confirmed that Mid Wales, North Wales and South West Wales will receive funding under the Connect to Work scheme, part of its wider Pathways to Work initiative designed to help people with complex barriers secure employment.
The announcement forms part of a £300 million expansion of the programme across England and Wales, which ministers say will provide tailored employment support to more than 75,000 people.
Under the plans, Mid Wales will receive up to £3.9 million to help around 1,000 people find work. North Wales will receive up to £13.3 million to support around 3,550 people, while South West Wales will receive up to £14.4 million to help approximately 3,850 residents.
The funding takes the total investment in the programme to more than £950 million. Funding for South East Wales is expected to be confirmed at a later date.
Connect to Work provides one-to-one employment support delivered in local community settings such as cafés, parks or community hubs. Participants are matched with employment advisers who help identify suitable roles, support job applications and work with employers to ensure appropriate workplace adjustments are made.
The UK Government says the programme aims to address economic inactivity linked to health conditions, with around 2.8 million people across the country currently out of work due to long-term illness.
Employment Minister Dame Diana Johnson said the initiative would give people who have been “written off and left behind” the support they need to move into secure work.
She said: “This government believes in the potential of every person in every part of the UK. Connect to Work gives people tailored support to move into good jobs and out of poverty.”
Secretary of State for Wales Jo Stevens said the scheme could improve financial stability and quality of life for many people.
She said: “Providing targeted help for people to get into work means a more financially stable future and a better quality of life for many.
“The tailored support offered by Connect to Work services in Wales will ensure anyone who can work is supported to get the right job for them.”
The programme is being delivered locally through councils and partner organisations. A spokesperson for the Welsh Local Government Association said councils are well placed to provide specialist employment support and link the scheme with other local services, including education, health and housing.
Connect to Work forms part of the UK Government’s wider £3.5 billion “Get Britain Working” package, which includes reforms to Jobcentres, new youth employment guarantees and expanded health-and-work programmes.
People who are out of work due to disability, health conditions or other complex barriers can access the scheme through self-referral or referrals from healthcare professionals, local authorities or voluntary organisations.
Business
Life-changing ‘support into work’ funding announced for South West Wales
Thousands of people with disabilities and health conditions across South West Wales are set to receive personalised support to secure employment, thanks to a major expansion of specialist employment support.
New funding worth up to £14.4 million is being delivered to South West Wales as part of the Connect to Work programme, which helps break down barriers to opportunity. This comes as part of the Government’s £3.5 billion Get Britain Working package — the biggest investment in employment support for a generation — unlocking work and boosting living standards as part of the Plan for Change.
The announcement was made on Thursday, March 5, by the Department for Work and Pensions.
South West Wales will now receive up to £14.4 million to support up to 3,850 disabled people, people with health conditions and those with complex barriers to work with tailored employment support to find good, secure employment. This forms part of a total programme investment of over £950 million across England and Wales.
The Minister for Employment, The Rt Hon Dame Diana Johnson said: “The government believes in the potential of every person in every part of the UK. That’s why I’m delighted to confirm funding for South West Wales.
“For too long, too many people have been written off and left behind. But Connect to Work changes that by giving people real, tailored support to move into good jobs and out of poverty. That’s what spreading opportunity means in practice.”
The programme’s support is designed to fit around the individual where participants can meet their employment adviser wherever they feel most comfortable. It also provides intensive, personalised help including individual coaching from employment specialists, job matching services, and ongoing support for both participants and employers.
The Secretary of State for Wales, Jo Stevens, said: “Providing targeted help for people to get into work means a more financially stable future and a better quality of life for many.
“The tailored support offered by Connect to Work services in Wales will ensure anyone who can work is supported to get the right job for them, helping them achieve their goals.”
Business
Crymych golf simulator, play space and wellness centre call
A CALL for approval for the use of Crymych industrial units as a golf simulator, child’s play space and a wellness centre offering a sauna, ice baths, and oxygen therapy has been submitted to county planners.
In an application to Pembrokeshire County Council, Mr and Mrs Evans, through agent Preseli Planning Ltd, seek a partly retrospective permission for the erection of commercial building containing three individual business units, at a former vacant storage yard at Parc Gwynfryn, Crymych.
A supporting statement says: “The building provides three sperate business spaces, two of the units are occupied, one as a golf simulator (7B 2) a second is occupied by a child’s role play and play space (7B 4) and the central unit (7B 3) is currently unoccupied, proposed to be let as a wellness centre.”
The site owners and applicants, Mr and Mrs Evans, are also the operators of the golf simulator enterprise and the original developers of the industrial estate, the statement says.
“The aim of the application is to regularise the existing building and existing and proposed uses. The building was substantially complete May 2025 and first occupied June 2025. Unit 7B2 is occupied by a golf simulator whereby users book slots online and self-serve.
“Unit 7B3 is currently unoccupied but would be occupied by wellness centre once planning permission is granted, consisting of sauna, ice baths, cryotherapy room, oxygen therapy etc. Unit 7B4 is occupied by a new enterprise which offers indoor roleplay space for children, Byd Bach.”
It adds: “In terms of the golf simulator, this is owner managed and the sites proximity to their main office within the site makes managing and attending the unit convenient and enables multiple businesses to be managed by the same members of staff.
“In terms of Byd Bach, this is operated by a local couple who also manage other premises in Crymych, amongst other employment. The site’s proximity to Crymych is therefore important and these arrangements are only successful given that the site is well-related to Crymych.
“The offering would not disrupt existing comparable provision, the closest facility of this kind being in St Clears, well beyond the catchment of this facility.
“The third unit is not yet occupied but would be operated by a local spinal injury sufferer, and athlete, who would benefit from the facilities themselves and offer therapy for others.”
Citing a recently-approved change on use of a building on the industrial site itself to a Hair and Beauty Salon, it said it was considered the development would not have a significant detrimental effect on the overall supply of business units or land in Pembrokeshire or Crymych.
The application will be considered by county planners at a later date.
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