26 October 2013

Wales Focusing Investment Potential into its Enterprise Financial Zone

According to a leading economist Kevin Gardiner born in Cardiff that leads Barclays Wealth and Investment Management, stated recently that Wales should increase its focus on inward investment opportunities combined with an attractive package incorporating desirable incentives.

Furthermore, it was stated by Mr Gardiner that Wales should increase its visibility and be more ambitions with regular communications that stand out from the crowd with its unique advantages as a way to increase its inward investmen solutions. As an example it was suggested that local authorities pension funds could be based and managed from within Wales.

This call for action, arrives in a context where earlier this week Deloitte did announce that is creating 100 international tax advisory roles in Cardiff, subsequently First Minister Carwyn Jones also stated that Cardiff enterprise zone for financial and professional services is to create and offer up to 3,000 skilled jobs.

Mr Gardiner also stated when comparing Wales to Ireland: “One of the things in Ireland’s favour was that its government deliberately used fiscal powers to attract direct investment. I am not suggesting for an instant that the Welsh Government will ever be able to do what Ireland has done to its tax rates, but anything it is able to offer on that front would be very useful".

Following a recent publication by UKTI, it can be noted that Wales has seen a significantly improvement in securing foreign direct investment in relation to other parts of the UK.

The UK in new technologies areas such as nanotechnology and software, and its manufacturing can compete in world markets, so investment potential is always available here.

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