Adam Price's Plan to Market Wales Worldwide
Adam Price, a Plaid Cymru cabinet member, has stated that his and the First Minister's plan is to promote Wales internationally, similar to the approach previously taken by the Wales Development Authority (WDA) before it was abolished 20 years ago.
Mr Price is the minister responsible for enterprise, connectivity, and energy, and he has confirmed that a new government agency will be established to provide a "one-stop shop" for any support companies need to grow their operations in Wales.
The WDA was successful in attracting foreign manufacturing companies, but ministers abolished the authority in 2006.
Mr Price acknowledged that Wales' economy has changed significantly since then but said there is "a need for an engine and the WDA was very successful in many ways, particularly in driving investment forward and working with manufacturing."
'We Are Good Sellers'
Adam Price lived in Boston for two years, he said.
"Every time I met someone and introduced myself and they heard I was from Wales, they asked what happened to the WDA.
"In terms of marketing, it put Wales on that kind of global platform. So we did that before and we can do it again.
"And you know what? We're quite good at selling, to be honest, we're quite good sellers in Wales.
"We know how to tell a good story and that's part of the piece."
Adam Price is the minister responsible for enterprise, connectivity, and energy in the Welsh Parliament.
Details of the New Agency
The details of the new agency have not yet been announced, but with its international focus, it will operate across Wales with regional and local plans.
The agency will build on pockets of world-leading manufacturing success in areas such as semiconductors, aerospace, and other thriving sectors like financial services in Cardiff.
It will also address challenges including connections to power grids, delays in the planning system, transport links, and access to finance.
Mr Price's initial goal is to make Wales the best place in the UK to grow and invest in business.
Cabinet Named on 13 May
Creating a new quango is expected to face strong opposition from Reform UK.
Reform repeatedly stated during the Senedd campaign that the number of government agencies should be reduced.
Concerns had also been raised about the WDA's performance and its ability to adapt to changing economic conditions before it was ultimately abolished.
Mr Price reiterated government plans to reform business taxes to try to improve high street retention rates.
He said rebalancing with out-of-town retailers paying more was part of the plan.
Regarding the continuation of business rate discounts for the hospitality, retail, and leisure sectors, he said the "direction" was to help.
'Use It or Lose It'
Adam Price added that everyone has a role to play in supporting their local high street.
"I believe the message of 'use it or lose it' is a message we can all understand, isn't it?
"So if we care about local businesses, if we care about businesses in the heart of our towns, it is important in so many different ways that we all put our pound into the local economy."
Follow Cymru Fyw on Facebook, X, Instagram, or TikTok.
Send any story ideas to cymrufyw@bbc.co.uk or contact via WhatsApp at 07709850033.
for the latest news from Wales on your mobile device.
