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In just four years’ time, the world’s top golfers will be making a beeline for Wales, which will host the 2010 Ryder Cup. Preparations for a fabulous tournament – at the Celtic Manor Resort created by the Toronto-based Welsh entrepreneur Sir Terry Matthews – are well in hand. Although most savvy business people know about the success of Ireland – hosts of this year’s Ryder Cup – until recently, not so many were yet aware of the striking economic performance of Wales, a country of three million people.

Part of the UK, Wales has had its own National Assembly since 1999 – and its business success hasn’t looked back since. Its dragon economy now looks to rival Ireland’s status as Europe’s “Celtic Tiger”. Wales has got a record 1.3 million people now in work. A range of advanced sectors – including aerospace, automotives, bioscience, IT and optronics – are fuelling strong economic growth. It is also a centre for the financial, business and professional services.

Wales is home to numerous global giants such as Ford, GE, Bosch, Logica CMG, Sony, BAE Systems, and Airbus to name a few. Since 1983, 2,615 investment projects worth a total of £15.9bn have been attracted to Wales. Sony’s facility at Pencoed is the only location outside Japan that manufactures the next generation of high definition broadcast and professional camera systems. Two Welshmen – chief executive Sir Howard Stringer and global chief marketing executive Andrew House – occupy key role in the company, which employs 158,000 people world-wide.

This record has lead to impressive increase in trade. Since 1999, the growth in Welsh exports (37%) has outstripped that of the UK. The US is firmly placed as Wales’ top trading partner. Welsh exports to the US in 2005 – valued at £1.3bn – increased by six per cent over the previous year.

The latest figures produced by the British Accreditation Bureau (BAB) show a still greater increase over the last 12 months – by 15%. Now the Welsh Assembly Government is laying the foundations for further growth. Recent reforms have included the merger of the former Welsh Development Agency and country’s tourist board with the government’s own industry department to form the new Department for Enterprise, Innovation and Networks– a name that reflects Welsh ambitions for future prosperity.

A new department – International Business Wales, with offices in North America at New York, Chicago, Houston, Los Angeles, San Francisco and Toronto – leads the drive to secure a still greater market share of trade and investment. The Welsh Assembly Government adopts a targeted inward investment approach in markets where it can develop distinct propositions and compete in new markets and sectors as they emerge. One exciting initiative is the development of a high technology park for UAVs – unmanned aerial vehicles – at ParcAberporth in Ceredigion, West Wales. This is backed up by major improvements in the country’s infrastructure and science base

Links between universities and business have been promoted by establishing Centres of Excellence in such advanced sectors as materials, rapid prototyping and environmental modelling. The roll-out of Wales’ unique Technium network is now well under way, enhancing the capacity of higher education to generate new spin-out businesses. Technium centres – all of them linked to academic centres – provide incubation and in-house technological and business support services.

Businesses investing in Wales can draw on an unparalleled package of support accessed through the ‘one-stop’ shop of International Business Wales. Minister for Innovation, Networks and Innovation, Andrew Davies says that Wales aims to use coordinated and tailored support, knowledge and resources to encourage greater trade and investments. “Companies are offered guidance to choose the best combination of programmes to suit their own, individual requirements. These services can then be finely tuned to reflect even more closely their needs and expectations,” he says.

“We are keen to encourage long-term relationships between businesses that will lead to joint ventures and similar partnerships”, he adds. One litmus test of the buoyancy of the Welsh economy is the fact that two leading headhunting firms, KMC International and Odgers, Ray & Berndtson have set up offices in Cardiff, which last year celebrated the fiftieth anniversary of its capital city status.

The top UK telecoms provider BT has chosen the Cardiff and the surrounding area as the test bed for a multi-billion pound investment in its 21st Century Network, opening up huge opportunities for companies to develop applications and content for delivery to businesses and homes.

As devolution progresses, Wales is gaining in selfconfidence and plays an increasingly significant role on the UK, European and world stages. In the words of one well-known commentator, former Times newspapercorrespondent and broadcaster Trevor Fishlock: “In the grammar of modern Wales, there’s a distinct emphasis on the future tense.”

Tel: +44 (0) 1443 845500
E-mail: ein@wales.gsi.gov.uk
Website: www.internationalbusinesswales.com

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