New jobs created in Wales thanks to foreign investment

The Department for International Trade’s inward investment results for 2021/2022 have been published, showing that nearly 330,000 jobs were created by overseas investment between 2017/18 and 2021/22.

Inward investment created nearly 85,000 jobs in 2021-2022, up 53 percent from the previous year and a 10-year high.

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

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

The Government’s ongoing commitment to achieving Net Zero has resulted in £13bn of investment in projects across the UK, directly contributing to the delivery of the Prime Minister’s 10-point plan for a green industrial revolution.

Inward investment also led to growth in the UK. Job creation from foreign direct investment (FDI) in Wales, Scotland and Northern Ireland increased by 36%.

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

“Nearly 2,000 new jobs created in Wales in one year demonstrate the power of inward investment to grow businesses, sustain jobs and boost local economies.

“From pension funds to high-tech manufacturing, we are committed to securing inward investment to help raise the country’s level and continue to support businesses with tailored support for start-up investors and ambitious trade deals that unlock greater access to the world’s markets.

“It’s great to see our approach working in Wales and I look forward to seeing the fruits of this investment create even more fantastic opportunities for the nation in the coming years.”

Secretary of State for Wales Simon Hart said:

“Wales is a fantastic place to do business and the 1,800 jobs created through new foreign investment last year are testament to the highly skilled and productive workforce we have here.

“I want Wales to continue to be a hugely attractive place to invest. There is much more to be done to build prosperity in Wales and the UK Government will work together with business to drive economic growth and create jobs.”