Welsh Conservatives will tomorrow call on the Welsh Government to address the series of failings identified in a critical report into declining levels of inward investment in Wales.
Last week’s report by the Welsh Affairs Select Committee concluded there has been a “lack of focus on marketing Wales overseas from the Welsh Government.”
Figures released earlier this month from Cardiff Business School show that in the past six years, Wales is the only nation or region of the UK to see a drop in its share of inward investment.
Labour’s abolition of the WDA has been branded “the worst policy decision made in Wales in living memory.”
Nick Ramsay AM, Shadow Minister for Business, Enterprise, Technology & Science, said, “Labour’s decision to abolish the WDA was short-sighted and has been roundly trashed as the worst policy decision ever made in Wales.
“Under the WDA, Wales had one of the highest levels of inward investment of all the UK’s nations and regions, but now has the second lowest.
“Over the last six years, Wales has been the only UK nation or region to see a fall in its share of foreign investment.
“Declining levels of inward investment have hit our economy and mean fewer jobs being created.
“Creating the conditions for economic growth and making Wales an attractive place for job creators to invest will require the Welsh Government to co-operate in a constructive manner.
“It is regrettable that Labour’s Business Minister refused to engage with this cross-party committee in identifying the barriers to increasing levels of inward investment.
“The Welsh Labour Government needs to get out of its silo and start working constructively with the Conservative-led Coalition to deliver the improvements in inward investment to grow our economy.”
