Wales' brand blurred for investors, adviser says – BBC.com

The image of Wales has become “blurred” and it has become difficult to attract foreign investment, according to the Welsh government's advisor on the economy.

Mark Rydodel Roberts, director of the Welsh Industrial Development Advisory Committee, said Wales has traditionally been “very successful at attracting foreign direct investment,” but has declined in recent years.

The first minister said he let Morgan get away and said that the economy was her “First priority”.

The Welsh government plans to hold an international investment summit in December to attract investors.

“I think the image of Wales outside of Wales is very blurry right now,” Rhydrderch-Roberts said.

“Is it a castle and a dragon, is it a central investment?”

The former investment banker said the country is currently collecting 3.5% of the UK Foreign Direct Investment ProjectScotland was attracting 8.4%.

“In the late '80s and late '90s, we were one of the best people in the UK to attract introverted investment,” he told BBC Radio Wales. Sunday supplements.

“We've been really struggling ever since. We're thinking about it for all sorts of reasons.”

Rhydredderch-Roberts said several reasons are part of the wider UK issues.

“Our tax burden is very high, our infrastructure is creaking, and our energy costs are the highest in the world,” he said.

“These types of structural factors are largely out of control of the Welsh government.”

Rhydredderch-Roberts is also chairman of the recently sold Glamorgan Cricket. 50% stake in the Wales Fire100 franchise teams in millions of pounds trading.

“One thing that really resonated with investors was that Cardiff as an event city is second only to London, but also the Welsh brand that made us unique among the seven other franchises,” he said.

Rhydredderch-Roberts said Wales as Wales can do more to improve its branding.

“What are we selling here, because our image can be rather discolored? Speed ​​limit of 20 miles per hour For example, he said, referring to the Welsh government's controversial decision to reduce speed limits across the country.

“That kind of thing… background noise… prevents us from seeing something real positive.”

The Welsh government confirmed that the International Investment Summit will be held in Newport on December 1st.

The first minister told BBC Wales on Friday that he was “looking for billions of pounds of investment and will provide thousands of jobs.”