Debate at giant Leeds showcase on how to ‘Unlock Wales’ Competitive Edge’
Cathy Hall, interim chief executive at Celtic Freeport, centre, speaks at the Wales freeports and investment zones event at the UK Real Estate Investment & Infrastructure Forum (UKREiiF) in Leeds(Image: Reach plc)
Freeports and investment zones in Wales can all complement each other and help the nation as a whole to grow, giant UK regeneration showcase UKREiiF has been told.
The Leeds showcase has attracted thousands of delegates to Leeds this week to hear about investment and regeneration opportunities across the UK.
The Wales pavilion hosted a debate on place based impact and development, as well as seeing the launch of the South West Wales investment prospectus which identifies investment opportunities from Pembrokeshire to Port Talbot.
And it hosted a panel discussion on whether Wales’ freeports and investment zones, which both offer tax advantages to investors to encourage them to choose Wales, can “Unlock Wales’ Competitive Edge”.
Host Mark John asked how they could be used to help promote Wales as an “investable nation”.
Christian Branch, head of service at the Regulation and Economic Development Service at the Isle of Anglesey Council, explained that Anglesey Freeport was a public-private partnership between the local authority and Stena Line, owner of the Port of Holyhead.
Asked if the freeports and investment zones across Wales were competing with each other, he said there were in fact opportunities for them to work together. He said: “From a national perspective it’s very much about complementing each other and I think there’s very much scope for all areas to improve”.
And he added that if one free port is successful “then all Wales is successful” and that it could help spark growth well beyondthe port boundaries.
Mr Branch said the freeport aimed to boost economic activity on Anglesey and beyond.
He said the island was dealing with challenges including an ageing population, young people moving away, and with thousands of job losses in recent years. But he said it also had many opportunities, including the Port of Holyhead, Rolls-Royce’s development of its Small Modular Reactor project at Wylfa, and the announcement of an AI Growth Zone on the island.
Cathy Hall, interim chief executive at Celtic Freeport – which covers the ports of Milford Haven and Port Talbo – said that while Mr Branch “hasn’t let me copy his homework yet”, she did expect that the freeports would learn from each other.
She explained that her freeport covers the ports of Milford Haven and Port Talbot, with a focus on the green economy through supporting offshore wind and the hydrogen economy. She said “It’s not just the two ports but the whole industrial ecosystem.”
Ms Hall said there were many similarities between coastal areas across Wales and the UK, but said each port also had its own specialities.
Ms Hall said one aim for the Celtic Freeport was to develop a “stickiness” in the supply chain – making sure that work in and around its ports helped to “build a long term skills base for the region as a whole”, rather than relying on contractors coming in and then leaving.
She highlighted the success at the Humber ports, particularly Grimsby, which have pivoted from fishing to supporting offshore wind in a move that has created skills and opportunities for local people.
Ms Hall said freeport and investment zone bosses could also act as “convening powers” for potential inward investors in areas such as offshore wind. They could, she said, help businesses new to Wales to get in touch with the right people to drive investments forward.
Iain Taylor, Flintshire and Wrexham Investment Zone programme manager at Ambition North Wales, said that zone was focused on areas including advanced manufacturing and supporting SMEs. Key sites include Gateway Deeside, Wrexham industrial estate, and Warren Hall.
He said the zone’s developers wanted to create thousands of jobs and to help smaller firms as well as the big companies in the region such as Airbus.
He talked about the tax reliefs on offer at particular sites, but said those reliefs in North East Wales and at the other sites featured on the panel were designed to attract long-term investors. He said: “The message across the panel is we’re here for the next generation,” and added that he wanted the local economy to be able to adapt to broader economic changes in the decades to come.
The Cardiff and Newport Investment Zone covers three strategic sites.
Cllr Deborah Davies, deputy leader at Newport City Council, said they include the proposed Cardiff Parkway station and integrated business park on the outskirts of Cardiff at St Mellons, which she added should develop its own business “ecosystem” once it opens.
But key industries in the investment zone will include advanced manufacturing and semiconductor R&D, which Cllr Davies described as “investment that matters to all Wales”. Key companies in the area include IQE, while its semiconductor expertise is attracting interest from around the world as the area still boasts plenty of space for firms to base themselves around that semiconductor cluster, and it also has strong transport links.
That investment, she said, will continue to lead to the development of local industries and businesses.
The investment zone also covers Imperial Park at Newport, which is home to leading tech firms including KLA and Vishay, and a parcel of land stretching from the Central Quay development in the centre of Cardiff down to Cardiff Bay and the Atlantic Wharf regeneration site.
The South West Wales Corporate Joint Committee (SWWCJC) has also unveiled its first regional investment prospectus at UKREiiF, marking a milestone in the region’s long-term economic development strategy.
The statutory body, that covers the local authority areas of Carmarthenshire, Neath Port Talbot, Pembrokeshire, and Swansea, has identified a portfolio of strategic opportunities across a range of sectors including clean energy, advanced manufacturing, innovation, tourism, and infrastructure.
Councillor Rob Stewart, chair of the SWWCJC and leader of Swansea Council, said: This prospectus is a statement of confidence in South West Wales. We are presenting a single, coherent regional offer to investors- one that reflects our shared priorities, our world-class natural assets, and our commitment to sustainable, inclusive growth.
“UKREiiF is one of the country’s leading events for driving investment, regeneration, and infrastructure development, making it the perfect platform to showcase the scale of opportunity in our region. It brings together public and private sector leaders from across the UK and beyond, and we are proud to support the Welsh Government, Ambition North Wales, Cardiff Capital Region, and Growing Mid Wales in showcasing the very best that Wales has to offer.
“Our participation at UKREiiF forms part of a wider programme to strengthen investor engagement and promote South West Wales as a dynamic, future-focused region ready to play a leading role in growing Wales’ and the UK’s economy.”
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