§ Mr. Geraint Howellsasked the Secretary of State for Wales if he will make a statement on the prospects for inward investment in Wales during the next few years.
§ Mr. Nicholas EdwardsWales has achieved considerable success in attracting inward investment and over 100 companies from North America, around 70 from continental Europe and nine from Japan are, or shortly will be, operating in the Principality. Competition for internationally mobile projects is intense and to meet that challenge WINvest—Wales Investment Location— was set up last year to co-ordinate our efforts to secure further investment. In its first 15 months of operation this unit has achieved significant successes by helping to secure new projects including Comdial, Parrot, Sharp, Align-Rite and Acrian as well as further investment by companies already established in Wales, among them Aeroquip, Control Data and 3M. Whilst in the United States on a WlNvest mission last September I was much encouraged by the interest shown in Wales as location for new investment. The recovery of the United States economy and the improved economic outlook in Britain and elsewhere in Western Europe offer prospects of more inward investment which we will pursue vigorously. Other areas of the world also have potential. The Japanese presence in Wales is already significant and I shall be visiting Japan in September to seek to build on the success we have already achieved.