Slight drop in inward investment inWales

from companies based overseas, with us securing investment from 85 companies and creating, supporting and safeguarding a total of 11,546 jobs.

“Impressively, we also secured almost 11% of all jobs created and safeguarded in the UK last year, which is an increase of almost 5% on our 2015-16 performance.

“There is no doubt that inward investment remains a key driver of economic development in Wales and it is vital that we work with both foreign companies and those based in the UK to bring further investment and jobs into Wales.

“I was also really pleased to see levels of investment into Wales from companies headquartered in other parts of the UK reaching a record high last year. This is proof of Wales’ growing reputation as a great place to do business and evidence that our business-friendly approach is paying dividends.”

Shadow Economy Secretary Russell George said: “It’s good to see that confidence in the Welsh economy is continuing to grow, and there are exciting opportunities ahead for the Welsh economy as we move closer to the post-Brexit era of new trading opportunities.

“Inward investment is a key indicator of economic health, and the UK Government is taking the action necessary to deliver jobs, prosperity and growth for Welsh communities.

“There are huge opportunities ahead for Wales and for the UK, but the Welsh Government needs to shake off negativity around the referendum result and support the Department for International Trade in its efforts to deliver for the people of Wales.”