§ Mr. WigleyTo ask the Secretary of State for Wales if he will discuss with Invest in Britain ways in which the recent decline of inward investment in Wales can be reversed. [17883]
§ Mr. HagueThe absolute number of inward investment projects recorded for Wales with the Invest in Britain Bureau has, at between 60 and 70 per annum, remained relatively constant for a number of years. Our percentage share of the Great Britain total was lower in 1994–95 than in previous years, but the competition has become more intense and, at 11 per cent, it was more than double Wales' percentage share of the Great Britain population. The Welsh Office, the Welsh Development Agency, local authorities and other bodies such as the Development Board for Rural Wales and Cardiff Bay development corporation, are working together to achieve further successes. The recent announcements by Halla of Korea; STS of Japan; and Newport WaferFab of Hong Kong show that these efforts are bearing fruit.