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
West African café and gallery opens in rural Carmarthenshire village
New venture in Llandybie brings together Ghanaian cooking, Welsh produce and a shared love of community
A NEW café, kitchen and gallery celebrating West African food and culture has opened in the Carmarthenshire village of Llandybie.
Baobab Cymru officially opened at The College Inn on Friday (Apr 17), bringing a new food and arts venture to the Amman Valley community.
The business has been created by Ghana-born Adisa Amanor-Wilks, who has lived in the area for more than a decade and says the project is about blending the cultures she loves most.

Named after the iconic African baobab tree – often seen as a symbol of community, resilience and nourishment – the venue will serve a range of West African dishes alongside regular café favourites.
The menu includes jollof rice with chicken, goat, fish or vegan options, Red Red – a black-eyed bean stew served with fried plantains – and a variety of traditional soups, including light soup, okra soup and groundnut soup with chicken, goat or fish.
Sweet treats will also be on offer, including Chin Chin, a traditional West African snack made from crunchy fried dough.
Many of the ingredients will be locally sourced, with customers able to choose between takeaway and sit-in dining. The venue will also include a gallery space showcasing both African and Welsh artwork.

Baobab Cymru has created three jobs and is now open for takeaway orders, coffee, sit-in meals and gallery visits.
A grand opening celebration was set for Sunday (Apr 19), with free tasters and live music from kora player Josh Doughty and West African ensemble Successors of Mandingue.
Councillor Julian Tandy, Welsh language campaigner Aran Jones and Dai Nicholas were all expected to attend the launch.
Adisa Amanor-Wilks said: “This is about bringing two cultures I love together in one space.
“West African food, Welsh hospitality, and a place where people can gather, eat well and feel welcome. African roots. Welsh home.”
The business will operate bilingually in both Welsh and English.
For opening times and the full menu, visit the Baobab Cymru Facebook page.
Business
Slebech Park wedding venue ran without planning permission for years
A CALL to keep a wedding venue, erected without permission at a Georgian Pembrokeshire hotel whose site once belonged to the Knights Hospitallers, has been given a five-year period of grace.
In a listed building application to Pembrokeshire Coast National Park, Traverse Development Ltd, through agent Harries Planning Design Management, sought retrospective permission for the temporary retention of a wedding marquee at Slebech Park Restaurant and Rooms, Slebech; works having started back in 2009.
Grade-II*-listed Slebech Park once belonged to the Knights Hospitallers of the order of St John, later becoming the seat of the powerful Barlow family.
The present house was completed in 1776, built by Anthony Keck. This is his largest known house and the biggest Georgian single build in the country.
The grade-II-listed stables, which have the marquee on their eastern terrace, were converted to a hotel, conference centre and restaurant after 2003.
A supporting statement accompanying the application said: “The proposal seeks to retain the already erected temporary marquee used for weddings to allow the site to continue to host weddings, whilst a permanent solution is developed and approved by planning.
“The marquee will continue to operate as it has for over 10 years, with no changes proposed. The marquee is completely removeable without any permanent fixtures.”
It added: “The marquee is only affixed temporarily and will be removed with no damage to any of the listed buildings or the overall site once a permanent solution has been agreed.
“By retaining the marquee in the same location, it ensures that continuation of the site is as existing, reduces the potential impact of moving the marquee to a potentially more harmful site and ensures any ecology is not further disrupted. Once removed the site will return to its historic state.”
An officer report recommending approval said no adverse comments have been received from consultees towards the current proposal, and no third-party representations raising issues relating to listed building matters have been received, the proposed scheme “in keeping with the character of the listed building, and its setting in terms of design and form”.
It added: “Temporary consent for this marquee has been granted on four previous occasions and a letter submitted in support of the current application states that an application for a permanent solution for a wedding venue at Slebech Park is imminent, in line with the original proposals for the terrace restaurant.
“The effect on character and setting is not considered acceptable long-term but short-term retention in the interests of retaining the complex of buildings in viable use (and repair) whilst a suitable permanent solution is found is considered reasonable. As such, the application can be supported for a temporary period subject to conditions.”
The application was approved, conditions including a five-year period of grace.
Business
Celtic Freeport chief steps down less than two years after taking the job
THE HEAD of the Celtic Freeport has stepped down from the role less than two years after being appointed.
Luciana Ciubotariu officially left the post on April 16, with the organisation confirming her departure in a brief statement.
No explanation has been given for the move, but board members praised her contribution during a key period in the freeport’s development and said details of the search for a successor would be announced later.
Ms Ciubotariu joined the Celtic Freeport in May 2024 after previously working with Thames Freeport in London. She was brought in to help steer the project through its formative stages and played a central role in shaping its early direction.
Her exit comes at an important time for the scheme.
Only weeks ago, Neath Port Talbot Council approved a memorandum of understanding with the UK Government, Welsh Government, Pembrokeshire County Council and Celtic Freeport Company Limited. The agreement is intended to confirm the council’s role as the accountable body as the project moves into its next stage.
The Celtic Freeport, which was formally launched in late 2024, is a joint initiative involving Associated British Ports, the Port of Milford Haven, Pembrokeshire County Council and Neath Port Talbot Council.
The project is designed to create designated tax and customs zones aimed at attracting major investment and boosting economic growth across south-west Wales.
In a statement, the organisation said Ms Ciubotariu had led the freeport through the approval of its full business case and helped secure the memorandum of understanding with both the UK and Welsh governments.
That agreement is expected to unlock £25 million in public funding for the project.
The board said it was grateful for her work in helping establish the freeport and wished her well for the future.
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