Latest news with #JoStevens
South Wales Argus
6 days ago
- Business
- South Wales Argus
India trade deal to boost Welsh economy by £80 million
This agreement, part of the 'Plan for Change', aims to benefit Welsh sectors such as renewable energy, creative industries, and food and drink. Welsh lamb is set to enter the Indian market duty-free, eliminating a 33 per cent tariff. The trade deal aligns with the UK's Industrial and Trade Strategies, supporting key growth sectors. The Welsh clean energy sector, employing more than 15,000 people, is expected to benefit from lower tariffs. It will also gain access to India's public procurement market. The creative sector, too, will enjoy increased copyright protections. Secretary of state for Wales, Jo Stevens, said: "This is a landmark deal that is set to boost Wales' economy by £80 million annually." Business and trade secretary Jonathan Reynolds added: "The millions brought to Wales each year from the deal we've signed with India today will be keenly felt across local communities, whether that's higher wages for workers, more choice for shoppers, or increased overseas sales for businesses." Welsh workers are set to benefit from a £2.2 billion annual UK wage increase, alongside the prospect of lower prices and a greater variety of clothes, shoes and food products.
Business News Wales
22-07-2025
- Automotive
- Business News Wales
Welsh Secretary Heads to US and Canada to Boost Trade and Investment
Welsh Secretary Jo Stevens is travelling to the United States and Canada on a mission to boost trade and investment in Wales. The two countries are among the most significant markets for Welsh exports, with goods and services worth over £2 billion destined for the US and Canada each year. Trade and investment between Wales and North America supports over 50,000 Welsh jobs. The visit follows the signing of the UK's economic prosperity deal with the US in May. Car manufacturer Aston Martin, which has a base in St Athan in the Vale of Glamorgan employing at least 600 people, resumed exports to the United States following the successful trade deal. The Welsh Secretary will visit the new Aston Martin showroom in New York City and meet executives. Jo Stevens' visit to North America comes after the UK Government's publication of its Industrial Strategy and aims to highlight Wales as a key destination for inward investment into the UK. During the visit the Welsh Secretary will raise awareness of this December's Investment Summit in Wales, encouraging North American business leaders and investors to participate in the event. Driving investment into Wales is the Welsh Secretary's primary goal, with high profile business facing events and roundtable meetings with industry leaders and investors in Toronto and New York. Her programme includes: Hosting a reception for business at Aston Martin's new showroom in New York City Meeting key Canadian businesses with an interest in Wales – including from manufacturing and other sectors – at a roundtable meeting in Toronto. A business breakfast with investors in sport real estate in the UK in New York. Speaking ahead of the visit, Secretary of State for Wales Jo Stevens said: 'There are strong and important economic and cultural ties between Wales and North America and it is fantastic to be able to promote these and help strengthen them further. 'The UK Government has made economic growth our key mission and our new trade deal with the United States delivers fantastic benefits for our key businesses like Aston Martin and for working people across Wales. 'I want to build on this progress and while I am in the USA and Canada I will be discussing further opportunities for investment in Wales with companies like Aston Martin. 'My message is very clear – Wales is open for business.' Deputy Trade Commissioner for North America Alan Gogbashian said: 'From sports economy firms to the automotive industry, Wales plays a key role in the UK economy, and has strong trade and investment ties with Canada and the United States. 'It's fantastic to host the Secretary of State for Wales in New York and Toronto this week to engage with current transatlantic businesses including Aston Martin, and to connect with potential investors ahead of the Investment Summit in Wales later this year.' The Welsh Secretary's itinerary also includes a reception in Toronto with business and cultural groups with interests in Wales and meetings with individual investors in Wales like Vale Mining.
Business News Wales
22-07-2025
- Business
- Business News Wales
Cardiff Capital Region Invests £6.25m in KLA's Manufacturing and R&D Centre in Newport
Cardiff Capital Region (CCR) and Newport City Council are contributing £7 million towards a new manufacturing and R&D facility at Imperial Park, Newport – part of the compound semiconductor cluster which is expected to boost skilled employment in the region. CCR supported US semiconductor equipment manufacturer KLA with a £6.25 million grant to facilitate the expansion of the highly innovative new manufacturing and R&D facility in Imperial Park. An additional £750,000 was granted from Newport City Council for the same project, and the total sum of £7m will be committed over the next four years. The Secretary of State for Wales, Jo Stevens, visited KLA Corporation's newly opened manufacturing and R&D facility, along with Cllr Dimitri Batrouni, the Leader of Newport City Council and senior managers from CCR. The new 237,000 facility includes manufacturing space, a fabrication plant, as well as office space for 750 employees, and is located within the compound semiconductor cluster in Newport, next to CCR's CSC Foundry. Secretary of State for Wales Jo Stevens said: 'I'm delighted to see this investment into the world-leading compound semiconductor cluster in Newport. KLA's new facilities mean they can expand and employ more highly skilled people. 'The UK Government's funding for Cardiff Capital Region and the local Investment Zone is helping drive economic growth in a sector where Wales leads the way, delivering the plan that we have set out in our Industrial Strategy.' Cllr Dimitri Batrouni, Leader of Newport City Council, said: 'This investment from CCR represents a stake in the new industries of the future, the new advanced manufacturing that is being built here in Newport on a massive scale. To drive a semiconductor plant such as KLA's, we need people, and we need skills and other companies in the local supply chain to make it all happen. 80% of these needs are coming from within the region and this is a great opportunity for the economy of South East Wales.' Andrew Evans, Senior Director, Commercial Legal, at KLA, said: 'The investments from both KLA and CCR into this new site reinforce the importance of Wales to KLA's global operations. The technologies created and developed in Wales are critical not only to our customers in Europe but globally too. The technology and infrastructure, combined with the skilled talent pool here continue to make this operation in Newport very competitive on the global semiconductor landscape.'
South Wales Argus
18-07-2025
- Business
- South Wales Argus
Mobile coverage blackspots shrinking in rural Wales
The improvements are part of the UK Government's Shared Rural Network (SRN) programme, which is jointly funded with mobile network operators to boost coverage in remote and underserved areas. Ben Roome, CEO of Mova, said: "30 new EAS masts are now live in the Welsh hills. "For the first time, signals from every mobile network are threading through valleys and reaching a further 2,500 kilometres of road—bringing connectivity to residents, businesses, and anyone passing through. "Thanks to the Shared Rural Network, not-spots are shrinking, connections are growing, and more coverage is on its way." A total of 30 masts have been activated in Wales, out of 56 across the UK, delivering faster and more reliable mobile coverage to rural towns and villages. Communities in Llangernyw, Pandy Tudur, Gwytherin, Cwmystwyth, and Llanymawddwy are among those now benefitting from improved connectivity. The upgrades also extend coverage across Bannau Brycheiniog and Eryri national parks, as well as areas of outstanding natural beauty like the Wye Valley and Bryniau Clwyd a Dyffryn Dyfrdwy. The improvements have been made by upgrading existing masts that previously only supported EE customers and emergency calls. Now, 4G coverage from all four major operators—EE, Virgin Media O2, Vodafone, and Three—is available in these areas. Jo Stevens, secretary of state for Wales, said: "Funded by UK Government investment, 30 new sites in Wales now have fast and reliable mobile internet access in areas which were previously poorly served. "Reliable connectivity improves every aspect of day-to-day life in rural Wales and makes a huge difference for local businesses, residents, and visitors. "This is an important step forward in our mission to kickstart the economy and unlock opportunity in rural areas across Wales."
South Wales Argus
18-07-2025
- Business
- South Wales Argus
Wales will become home to new AI Growth Zone, UK Government
Wales has been named as the future home of an AI Growth Zone, part of the UK Government's Plan for Change, which aims to generate economic growth through advanced technology. The zone is expected to attract billions of pounds in investment and create thousands of high-skilled jobs. Peter Kyle, UK secretary of state for science, innovation and technology, said: "From the coalmines of the Valleys to Swansea's mantra of 'Copperopolis', Welsh trailblazers were the beating heart of the industrial revolution. "AI is this generation's next great industrial leap, so who better to help drive that change than a nation which has always been a by-word for innovation. "These Growth Zones will revitalize communities in the here and now – unlocking fresh investment and new opportunities for those that have been left out in the cold for too long." AI Growth Zones are designed to accelerate the development of critical infrastructure such as data centres. These centres will support breakthroughs in areas like healthcare, climate science, and other sectors by enabling the processing of vast amounts of data. The plan is part of a broader government strategy to increase the UK's computing capacity twenty-fold—ensuring the infrastructure is in place to train and deploy advanced AI models. Jo Stevens, secretary of state for Wales, said: "Wales is already home to a thriving and growing tech industry and this investment in at least one AI Growth Zone for Wales is a vote of confidence in the Welsh economy and testament to the skills and potential of our workforce. "This is another significant step forward in our central mission to kickstart economic growth, create well-paid jobs and unlock opportunity in the industries of the future." The zones are expected to attract significant private investment, particularly in areas with strong power connections and potential for clean energy use. Wales has already set a target to meet 100 per cent of its electricity needs from renewable sources within the next decade. Work is already underway to establish Wales as a leader in AI, with US-based Vantage Data Centers planning to build one of Europe's largest data centre campuses in the country.
