Wales to host world investment conference

Wales will host an international investment conference aimed at creating jobs and economic growth, UK Business Secretary Vince Cable has announced.

The event, at Newport's Celtic Manor in November, will focus on new technologies and follow the Nato Summit at the venue on September 4 and 5.

Mr Cable made the announcement with Welsh Economy Minister Edwina Hart at Sony in Pencoed, near Bridgend.

The plant manufactures the credit card-sized Raspberry Pi computer.

The low cost device is designed to promote computing skills to school children and 3.5m have been sold worldwide. One of the devices will be given to all foreign leaders at the Nato summit.

Mr Cable said the UK Investment Summit, on 20 and 21 November, was a chance to "show Wales' strengths as an excellent place to do business and one that is open to foreign investment".

He added: "The [UK] government's industrial strategy is giving businesses the confidence to invest over the long term, creating the type of high skilled jobs this country needs to thrive in the future."

"This will help create a stronger and fairer economy in Wales and the rest of the UK."

The latest figures suggest investment in Wales from abroad is at its highest for nearly 25 years.

Statistics from UK Trade and Investment (UKTI) show 79 foreign companies invested in Wales in 2013-14.

Mrs Hart said the investment summit would focus on "a range of emerging technologies that will allow us to highlight Welsh expertise in this field across a range of key industries".

"The pioneering work and research and development being undertaken by specialist academic institutions and companies in Wales is of international interest.

"Coupled with high-performance computing capability and access to world class facilities, Wales has a compelling proposition to offer potential inward investors that want to grow their businesses."