The Department for International Trade’s 2021/2022 Inward Investment Results have been published, showing nearly 330,000 jobs were created thanks to investment from overseas between 2017/18 and 2021/2022.
Inward investment created nearly 85,000 jobs in 2021-2022, 53 percent more than 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 across the UK, 73,000 were created with support from DIT or one of its regional or local partners.
The government’s ongoing commitment to reaching Net Zero saw £13 billion in investment going to projects across the UK, directly contributing to fulfilling the Prime Minister’s 10 Point Plan for a Green Industrial Revolution.
Inward investment also delivered growth across 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 the space of a year shows the power of inward investment to grow businesses, support jobs and boost local economies.
“From pension funds to high-tech manufacturing, we are committed to securing inward investment to help level up the country and continue to back businesses with tailored support for budding investors and ambitious trade deals that unlock greater access to global markets.
“It’s great to see our approach working in Wales, and I look forward to seeing the fruits of this investment up create even more fantastic opportunities for the nation in the years ahead.”
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 highly attractive location for investment. There is much more to do to build prosperity across Wales and the UK Government will work alongside business to drive economic growth and create jobs.”