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
Appeal against Saundersfoot sauna considered and online petition set up
A NATIONAL park refusal of the permanent siting of an award-winning Pembrokeshire seaside village outdoor sauna, which has been featured in the national press, is likely to be appealed, its owner has said.
Back in June 2024, a temporary two-year permission for a mobile wood-fired sauna at overlooking the sea at Saundersfoot harbour was granted by Pembrokeshire Coast National Park’s development management committee.
Since then, a further application by Kerry Evans of Hwyl Outdoor Sauna to make the siting permanent was submitted to national park planners, which was refused following an officer recommendation at the July committee meeting.
Back in February, the business, set up by former superyacht worker and mum-of-two Kerry won Sauna of the Year 2026/27 at the Wales Prestige Awards, and the facility has featured in the national press.
The permanent siting proposal had gained support from the public saying it was “a major asset to the village,” and “a wellness landmark for Saundersfoot,” and “a unique offering that attracts visitors to the beach and harbour”.
It was refused on the grounds the sauna “in its current form and with the proposed location of the sauna, is considered to result in a landscape impact that harms the setting of the Saundersfoot Conservation Area,” it was “located in a position which reduces public access along the existing promenade route,” and an updated, since its previous permission, need for a Flood Consequences Assessment which hadn’t been addressed.

At the meeting, applicant Kerry Evans said the sauna had been a “successful local business,” which had attracted thousands to the village with a thriving community around it, with donations to charities and local fundraisers.
She said the current location against beach-side railings was “fundamental to its success,” providing users with “privacy and dignity,” while allowing them stunning views across the bay.
After the scheme was refused committee members had expressed their hopes a different harbourside location could be found for the sauna.
Speaking after the planning refusal, Kerry Evans said she had started the early stages of a potential appeal over the decision by writing to Planning and Environment Decisions Wales (PEDW), adding: “We had amazing support from Cllr Chris Williams and [former county councillor] Phil Baker, [and a petition of some 600 signatures in support]; we had all the right people in the right places but it wasn’t actually been taken on board.”
On the reasons for refusal, Kerry said the flood risk issue seemed “a little bit nonsensical,” with the sauna operating for two years without any issues, the mobile sauna being moved in poor weather conditions as “it would be foolish to leave it there”.
On potential alternative locations, she said: “If there was somewhere suitable I’m obviously happy to look at that, but having explored it quite extensively there aren’t many areas; there’s a need for privacy, I have no control about who would be looking through the window.
“Part of the magic of that sauna is the view and the magic of the Pembrokeshire coast with the amazing light; people feeling slightly uptight come out relaxed, there’s a sense of space and connection with the outside world, which is hugely important for us as human beings.”
She went on to say: “We’re trying to arrange a meeting with the officers and the CEO of the harbour,” adding: “Everyone said ‘we want this business to work,’ if they’ve got a genius idea, I’m open to suggestions.
“To me it seems like a real shame it’s been refused, the only material change is it’s now proven to be a safe and successful business.
“It’s a frustration, all that hard work is being put in jeopardy by this decision.”
Since the refusal, a change.org petition entitled Save Hwyl outdoor sauna Saundersfoot, has been set up, attracting more than 300 signatures to date.
Business
Dedicated 5G network introduced at Royal Welsh Show to keep livestreams running
BT says protected mobile connection will help Welsh traders process card payments and allow organisers to share live content during periods of heavy network demand
DEDICATED 5G connectivity is being used at this year’s Royal Welsh Show to prevent card payments, livestreams and other essential digital services from being disrupted when the showground becomes crowded.
BT and the Royal Welsh Agricultural Society are demonstrating new 5G+ “network slicing” technology at the event, which is expected to attract as many as 250,000 visitors during its four-day run.
The technology creates a dedicated and protected section of the EE mobile network for specific services or organisations.
This means businesses using the connection should continue to receive reliable mobile coverage even when thousands of visitors are simultaneously using their phones, potentially placing the wider public network under significant pressure.
At the showground, the dedicated connection is supporting payment systems operated by Welsh food and drink businesses Radnor Hills and Fire and Flank.
BT says the system will help traders process card payments quickly during peak periods, reducing the risk of lengthy queues or lost sales caused by network congestion.
Chris Butler, marketing manager at Radnor Hills, said dependable connectivity was essential because thousands of visitors use the company’s stands during the show.
He said: “The Royal Welsh Show is one of the most important events in our calendar, both as a proud Welsh business and a long-standing supporter of the show itself.
“With thousands of visitors stopping by our stands every day, dependable connectivity for our payment systems is essential to keeping queues moving and making sure customers can quickly grab a drink and get back to enjoying their day.
“Having a dedicated 5G+ network slice gives us greater confidence that we can continue serving people smoothly, even during the busiest periods.”
Fire and Flank is exhibiting at the Royal Welsh Show for the first time.
Founder and director David Evans said: “When demand is high, the last thing any business wants is connectivity issues slowing down card payments or creating long queues.
“Reliable connectivity for our electronic point-of-sale systems helps us serve customers quickly, deliver a great experience and focus on what matters most, sharing our food with visitors.”
The technology is also being used by the Royal Welsh Agricultural Society’s communications team and 2026 show ambassador Teleri-Haf Thomas.
It will allow them to livestream, upload videos and share content from the showground, even when tens of thousands of visitors are using the public network.
Aled Jones, chief executive of the Royal Welsh Agricultural Society, said mobile connectivity had become increasingly important to the running of the event.
He said: “The Royal Welsh Show is about bringing together hundreds of thousands of people from across Wales and beyond, and connectivity has become an increasingly important part of that experience.
“From supporting exhibitors and traders to helping our team deliver the event safely and efficiently, reliable mobile connectivity plays a vital role.
“Working with BT to showcase 5G+ network slicing demonstrates how next-generation mobile technology can support critical operations while helping us share the best of Welsh agriculture, food and rural life with audiences both on the showground and online.”
The Royal Welsh Show trial is described as one of the first large-scale public demonstrations in the UK of network slicing being used to support both business-critical services and visitor experiences at a major event.
BT is preparing to launch its first network slicing services to customers later this summer.
Adam Price, the Welsh Government’s Minister for Enterprise, Connectivity and Energy, said: “It is important that visitors and businesses alike experience high-quality digital connectivity at nationally significant events like the Royal Welsh Show.
“BT and the Royal Welsh Agricultural Society have committed to ensuring the event benefits from world-class technology, and I am pleased Welsh Government collaboration has helped to make this possible.”
Greg McCall, BT’s chief security and networks officer, said the technology could provide businesses and organisations with more predictable connectivity during major events.
He said: “Whether it is buying food and drink from local traders, sharing moments from the show on social media or following the action online, people increasingly expect seamless connectivity wherever they are.
“By providing dedicated, high-performance connectivity for specific applications, we are helping businesses keep payments flowing, enabling reliable livestreaming and content uploads, and showing how next-generation mobile technology can support better experiences for organisations and consumers alike.”
BT has upgraded equipment at the Royal Welsh Showground and a neighbouring mobile mast in Builth Wells as part of the project.
The company says it has invested more than £500 million in fixed and mobile connectivity across Wales since 2020.
Business
St Davids family-friendly coffee bar approved
PLANS to change a former hairdressing salon in Pembrokeshire’s only city to a family-friendly coffee bar have been approved by the national park.
In an application to Pembrokeshire Coast National Park, Gerallt Nash sought permission for a change of use of 26 High Street, St Davids from a hairdressing salon to a family friendly coffee bar and children’s playroom.
The first floor, formerly used as accommodation of a tenant, would be used as an office and storage of business.
A supporting statement said: “It is proposed to open a family-friendly coffee bar with a children’s playroom on ground floor. It is not intended to cook food on the premises, therefore there will be no requirement for an extractor system.
“Other than small scale repairs to part of one floor, and the installation of a sink and serving counter in the inner room (plumbing and electrics are already in place since its last use as a salon) the main work will be the redecoration of surfaces and ceilings, the provision of new light fittings and laying of new floor coverings.
“This part of High Street has been identified as a ‘commercial’ zone by PCNPA. Existing businesses close to No 26 include outdoor and surfing outlets; restaurants; clothes shops; holiday accommodation; ice cream parlour; fish and chips outlet; delicatessen and craft shops.
“The current proposal would fill a gap in the market, as most food outlets do not open until after 11am or 12pm, or only during the evenings in some cases. It would also provide somewhere for [young] families to go to unwind whilst their children can relax in the playroom.”
The scheme was supported by St Davids City Council but one representation from a member of the public raised concerns about potential noise, smells and risk of vermin from waste storage on site.
An officer report said the county council’s public protection team has been consulted and has no objections to raise, adding the application states there is no intention to cook on the premises; the opening hours listed as 8am-6pm, Monday to Friday, and 8am-7pm on Saturdays.
In recommending approval, it said: “There are no concerns in relation to significant impacts upon amenity, subject to a condition relating to opening hours, and it is not considered that the proposal would have an impact upon the character or appearance of the St David’s Conservation Area.”
The application was conditionally approved.
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