Written question WQ85184

It is a key commitment within our international strategy to grow our economy by attracting high quality inward investment.

Wales presents fantastic prospects for investment across a range of sectors and activities.

We will continue to promote those areas of the economy where Wales demonstrates international class capability, including cyber security, compound semiconductors, fintech (financial technology), life sciences, renewable energy and value-added/next-generation manufacturing.

One such example is Marine Energy Wales, which brings together technology developers, the supply chain, academia and the public sector to establish Wales as a global leader in sustainable marine energy generation. Our commitment to decarbonisation, reinforced through the launch of our strategy Net Zero Wales, and our natural marine assets offer investors significant opportunities in tidal energy and floating offshore wind as well as broader green tech.

The Welsh Government was a key partner in the creation of the Central Cardiff Business District through its funding towards the completion of the first new Grade A office scheme, 1 Capital Quarter, which has led to further developments in Central Square and elsewhere in the city. Cardiff is now home to leading fintechs such as Monzo and Starling.

Through initiatives, such as Fintech Wales and the Cyber Innovation Hub, we are providing the environment to support innovation and the development of skills to incentivise industries of the future to locate and grow in the South East Wales region.

Our focus on nurturing the Foundational Economy will also provide assurance to global firms that we will support them to connect with skilled and resilient local supply chains, made up of capable indigenous businesses.

When I talk to potential investors or those that have come to Wales already, it is also the coherent programme, the political stability and the partnership approach Wales has to offer, that provides that extra edge.

Our social partnership approach has a crucial role in all of this, not least in bringing people together to promote fair work and better jobs - epitomising the Team Wales approach.