Business News

New Jobs Created in Wales Thanks to Foreign Investment

The Department for International Trade has released its 2021/2022 Domestic Investment Results, which show that between 2017/18 and 2021/2022, about 330,000 jobs were created for foreign investment.

Internal investment created about 85,000 jobs in 2021-2022, 53 percent more than the previous year and a 10-year high.

Jobs in Wales increased 17% over the same period with 43 new foreign direct investment projects.

Of the 85,000 jobs across the UK in 2021/22, 73,000 were created with the help of DIT or its regional or local partners.

The government’s ongoing commitment to reach Net Zero has seen 13 13 billion in investment going to projects across the UK, contributing directly to fulfilling the Prime Minister’s 10-point plan for a green industrial revolution.

Domestic investment has also provided growth across the UK. In Wales, Scotland and Northern Ireland, employment from foreign direct investment (FDI) increased by 36%.

Secretary of State for International Trade Anne-Marie Trevelyan MP said:

“The nearly 2,000 new jobs created in Wales in a single year show the power of domestic investment to grow the business, support jobs and boost the local economy.

“From pension funds to high-tech manufacturing, we are committed to securing domestic investment to help raise the level of the country and provide useful support for emerging investors and ambitious trade agreements that unlock more access to global markets.

“It’s great to see our vision working in Wales, and I look forward to seeing the results of this investment create more fantastic opportunities for the nation in the years to come.”

Wales Secretary of State Simon Hart said:

“Wales is a great place to do business and the 1,800 jobs created last year through new foreign investment are proof of our highly skilled and productive workforce here.

“I want Wales to continue to be a very attractive place to invest. There is much more to be done to build prosperity across Wales and the UK government will work alongside business to create economic growth and employment. ”


Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button