§ Mr. Wigleyasked the Secretary of State for Wales if he has any plans to improve Wales's profile in terms of attracting industrial development.
§ Mr. Nicholas EdwardsThere are always improvements to be made. However, the fact is that 47 new overseas companies have decided to locate in Wales since I established WlNvest in April 1983 as the focal point for our efforts to attract industrial development. This represents about 24 per cent. of the new projects secured for the United Kingdom during this time. In the same period 24 investment projects by overseas companies that have already chosen Wales as a location have been announced. Taken together this represents investment in excess of £300 million. Nearly 400 applications for regional selective assistance were received by my Department in 1984; 16,500 inquiries were received by my Department's small firms centre; over 1.8 million sq ft of factory space was let; and the WDA/private sector Welsh venture capital fund was launched in January. All of this suggests that Wales is attracting, and continues to attract, a high share of mobile projects and that the advantages that Wales has to offer as an industrial location for projects new to Wales and for indigenous growth are well understood and appreciated. Apart from its other activities WlNvest will also be participating fully in the forthcoming Britain Means Business campaign.