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
Pembrokeshire hotels win international sustainability standard
TWO PEMBROKESHIRE hotels have secured a leading international environmental accreditation.
St Brides Spa Hotel in Saundersfoot and Tŷ Hotel Milford Waterfront have both achieved ISO 14001 certification, an independently audited standard recognising strong environmental management and continuous improvement.
The hotels are part of The Celtic Collection, Wales’ largest independent hotel group, which has now achieved the standard across all ten of its hotels in South Wales, as well as International Convention Centre Wales.

SUSTAINABILITY FOCUS
The accreditation recognises work already being carried out at the two Pembrokeshire hotels, including carbon reduction strategies, zero waste to landfill, and improved recycling systems.
Food waste from the hotels is sent to be turned into biogas renewable energy, while waste oil is converted into biodiesel.
Both hotels also work with local and seasonal suppliers, including Pembrokeshire food producers, helping to reduce food miles while supporting farmers and fishermen in the county.
The Celtic Collection said the certification builds on more than 30 years of sustainable business practice and follows the group achieving Green Dragon Level 4 status in 2025.
‘RESPONSIBLE BUSINESS’
Russell Phillips, Vice-President of Facilities and Development at The Celtic Collection said: “Across The Celtic Collection we combine exceptional hospitality and large-scale event capability with a commitment to responsible delivery.
“This is now all underpinned by ISO 14001, which ensures we are continually reducing our impact on the environment.
“Achieving ISO 14001 has been a long-held goal for The Celtic Collection and demonstrates our investment in and commitment to becoming a more responsible business.”
Energy and Sustainability Manager Fitzroy Hutchinson said colleagues across the hotels had played a key role in the achievement.
He said: “A key focus for the team has been the successful activation of colleagues in driving positive and continuous change.
“At each of our hotels, Environmental Working Parties include representatives from across the business to ensure sound environmental practice is part of everyday, and that new ideas are brought forward frequently.”
CERTIFICATION PRAISED
William Christie, Director of accrediting body A Cube TIC said: “We recognise that this journey requires commitment, leadership and hard work from everyone.
“This is required to not only achieve the certification but also to maintain the certification.
“This is a remarkable milestone that reflects strong commitment to environmental responsibility and sustainable business practices.”
Photo caption: Green standard: Team members at St Brides Spa Hotel and Tŷ Hotel Milford Waterfront celebrate achieving ISO 14001 certification.
Business
Celtic Collection sustainability award includes Milford Waterfront hotel
THE CELTIC COLLECTION has achieved a major international sustainability certification covering all of its hotels, including Tŷ Hotel Milford Waterfront.
The ISO 14001 certification recognises the group’s environmental management systems, including waste reduction, carbon-cutting measures, recycling, biodiversity work and long-term governance around sustainability.
The Celtic Collection, Wales’ largest independent hotel group, operates Tŷ Hotel Milford Waterfront in partnership with the Port of Milford Haven. It also manages St Brides Spa Hotel in Saundersfoot, which was acquired by the Port in 2024.

The certification also covers Celtic Manor Resort, Coldra Court Hotel, The Parkgate Hotel in Cardiff, the Tŷ hotels at Magor and Newport, and ICC Wales.
The group said all of its hotels send zero waste to landfill and operate carbon reduction strategies. Food waste is sent to be turned into biogas renewable energy, while waste oil is recycled into biodiesel.
Russell Phillips, Vice-President of Facilities and Development at The Celtic Collection, said: “Across The Celtic Collection we combine exceptional hospitality and large-scale event capability with a commitment to responsible delivery.
“This is now all underpinned by ISO 14001 which ensures we are continually reducing our impact on the environment.”
Energy and Sustainability Manager Fitzroy Hutchinson said staff across the group had played a key role, with environmental working parties set up at each hotel to encourage ideas and improve day-to-day practice.
The award is part of the group’s wider Environmental, Social and Governance strategy, which includes a commitment to reaching Net Zero by 2050.
Picture caption: Team members at Celtic Manor Resort with the ISO 14001 certification.
Business
Brace’s Bakery sold to Boparan in deal said to protect hundreds of jobs
ONE of Wales’ best-known bakery brands has been acquired by Boparan Private Office in a deal said to secure the future of the business and protect hundreds of jobs.
Brace’s Bakery, founded in 1902, has been bought by Boparan Private Office, the family-owned group linked to some of the UK’s largest food manufacturing operations.
The announcement comes after growing concern over the future of the Welsh bakery, with fears over jobs and production amid falling demand for traditional sliced bread and major pressure on costs.
Brace’s is a fourth-generation family business and one of the best-known bakery brands in Wales, supplying bread, rolls and bakery products to major retailers and independent shops across Wales and the West of England.
Boparan Private Office said the acquisition would bring together Brace’s “strong regional heritage and brand recognition” with its experience of investing in British food businesses.
The group recently acquired Roberts Bakery, based in Cheshire, in 2025.
‘Iconic brand’
Ranjit Singh Boparan, President of Boparan Private Office, said: “Brace’s is an iconic brand with a rich heritage, and we are delighted to have been able to reach an agreement to step in and preserve this business, while helping to take it into a new era through investment, innovation and modernisation.
“Brace’s Bakery has been at the heart of its communities for generations, and we are absolutely committed to supporting its long-term success.
“Our focus is on providing the backing and stability the business needs to move forward and build a sustainable future while maintaining the identity and quality that customers trust.”
He said there were opportunities to invest in innovation across products, manufacturing, customer service and routes to market, while keeping the brand true to its values.
Mr Boparan also acknowledged the uncertainty faced by workers during the sale process.
He said: “We would like to take this opportunity to recognise the tremendous commitment and loyalty the Brace’s workforce has demonstrated during this challenging period.
“I recognise there has been uncertainty while discussions have taken place, which have admittedly taken longer than expected as we worked to ensure everything was in place for customers, the management team and all colleagues.”
‘A clear path forward’
Mark Brace, Managing Director at Brace’s Bakery, said the deal was an important step for the company.
He said: “This is an important step for Brace’s Bakery, and my brother and fellow director, Jonathan, and I are both delighted that Boparan Private Office has stepped in to give the brand the opportunity to build on almost 125 years of baking heritage as we move into a new era.
“Boparan Private Office understands the importance of the Brace’s brand, its people and the communities we serve.
“Their support provides a clear path forward for the business, allowing us to focus on strengthening Brace’s operations and continuing to deliver the quality products our customers expect.”
Changing market
The takeover follows a difficult period for the traditional bakery sector.
Brace’s has previously pointed to a sharp decline in demand for standard sliced bread, with changing consumer habits putting pressure on one of its core products.
Across the UK, shoppers have increasingly moved towards sourdough, seeded loaves, wraps, flatbreads, higher-fibre products and other alternatives, while many households no longer rely on toast and sandwiches in the way they once did.
At the same time, bakeries have faced rising energy, ingredient, wage, packaging and transport costs.
The deal means Brace’s, one of Wales’ most recognisable food brands, will now become part of a much larger food group with significant manufacturing interests.
Boparan Private Office is a family-owned conglomerate with divisions covering agriculture and property, UK food manufacturing, restaurants and European poultry operations.
The wider group is one of the UK’s leading food manufacturers, with turnover of more than €5 billion and around 25,000 employees.
For Wales, the announcement will be seen as a major intervention in the future of a household name which has been part of Welsh life for more than a century.
The key question now will be how much investment follows, what happens to production across Brace’s sites, and whether the new owner can modernise the brand while keeping its Welsh identity intact.
-
Crime1 day agoPaddleboard company owner loses bid to cut sentence over Haverfordwest tragedy
-
Crime3 days agoMilford Haven man bit neighbour’s neck near cashpoint
-
Crime4 days agoMilford Haven man jailed for illegal Premier League streaming service
-
Crime4 days agoHaverfordwest man admits cocaine offence as Crown disputes basis of plea
-
Local Government4 days agoNational Express use of new Haverfordwest interchange still subject to risk checks
-
Crime3 days agoPembroke Dock driver avoided jail after drug-drive crash
-
Crime3 days agoDinas Cross man jailed over shop thefts
-
Community6 days agoCharles Street to come alive for Milford Haven Founders Day







