Newport investment summit expected to bring new jobs to Wales

More investment and more jobs are being sought in Wales at a summit hosted by the Welsh government, expected to be attended by hundreds of business leaders from across the globe.

Economy Secretary Rebecca Evans said the country had already attracted £4.5bn of inward investment since the summit, which will be held in Newport on Monday, was announced.

She said it was an “opportunity to put Wales on the map”, with attendees even invited to a ride around the country’s national velodrome with Tour de France winner Geraint Thomas.

Plaid Cymru said such announcements were coming “too late in the day”, while the Conservatives it was low tax and less bureaucracy that would attract investment.

The Welsh government hopes to increase investment in sectors already present in Wales, like semiconductors, creative industries, advanced manufacturing and life sciences.

Evans told BBC Politics Wales that 300 people 250 different businesses spread across 37 different countries would be attending the investment summit.

Guests will sample Welsh cuisine with chef Tom Simmons before a panel discussion on pioneers in sport with Baroness Tanni Grey-Thompson, Richard Parks and Prof Laura McAllister.

Challenged on how the government will measure the success of the summit, Evans said: “There will definitely be opportunities to close deals pretty quickly as a result of the investment summit, but also this is really about creating connections and relationships.

“It takes time to build relationships and trust is really, really important in terms of ensuring that the investors do come to Wales.”

When launching this summit in the Spring, First Minister Eluned Morgan said growing the economy was her “top priority”.

More than 170,000 people in Wales work for companies that are owned overseas, but Morgan told BBC Wales: “I think we can get more of that”.

Plaid Cymru’s Heledd Fychan said: “I hope something comes from the investment summit.

“But, obviously, we are seeing some of the announcements now very much late in the day when we’ve had over two decades to change the fortunes of things here in Wales.”

Darren Millar, leader of the Conservatives in the Senedd, said: “We do need to get our infrastructure right.

“It was terrible that one of the first decisions that the UK Labour government took was to scrap the plan to electrify the north Wales rail line.

“And, of course, we haven’t seen that investment in our road network either by the Welsh government; whether that’s the M4 relief road investment, along the A55, or investment in dualling the A40.

“These are the sort of projects that will deliver the growth that Wales needs to see.”