The Cardiff Capital Region Economic Growth Partnership’s (EGP) Industrial and Economic Growth Plan is being showcased this week to potential global investors attending the largest property exhibition in the world.
Marche International des Professionals d’Immobilier (MIPIM) is held in Cannes, France, from March 12 to 15. Representatives from the Cardiff Capital Region will highlight the investment opportunities and potential of the CCR.
A key objective is to promote the business-driven Growth Plan, specifically at an event on Tuesday (March 12).
Developed by business leaders within the region, the Plan responds to the region’s strengths and maximises opportunities, underlining how South East Wales is primed for investment.
Building on competitive advantage and opportunity within the economy, it strategically targets sectors for support to grow and flourish. These include, but are not limited to:
• Compound Semiconductors and its supply chain
• AI, Data and Cyber Security
• Financial Technology
• Creative Economy
• Life sciences – more specifically the medical devices and diagnostics subsectors.
• Transport Engineering – automotive, trains and aircraft
Frank Holmes, Chair of the CCR’s Economic Growth Partnership which has developed the Plan, said:
This is a £5.3bn programme building on a high-class integrated transport system, Metro, which will connect the region, shaping places along its route whilst investing in innovation, infrastructure and existing assets to boost economic productivity, competitiveness and inclusion.
Like any plan, its success will be determined by action and leadership to sustain. It is critical that this plan and this region has visibility and influence outside of Wales, and indeed, globally. Our competition is both overseas and the other regions of the UK.
Promoting and engaging with stakeholders not just in Wales, but also at global events like MIPIM, will help ensure our region is engaging with international businesses and potential investors.
Councillor Andrew Morgan, Chair of the Cardiff Capital Region Cabinet, and Chair of Rhondda Cynon Taf Council said:
The Regional Cabinet is pleased with how the Economic Growth Plan has been developed and welcomes the fact that it goes beyond just creating jobs. It looks at the four combined aspects that will help us grow the economy: housing, transport, skills and jobs, and in turn, that will bring about economic benefits across the region. Working with Welsh Government and led by our EGP, we have to plan for a world where there are no more city deals and no more EU funding.
As the gateway to both Wales and England, the Cardiff Capital Region occupies a strategic vantage point and is a key connectivity hub for investment and the flow of goods, technologies, people and ideas on both a UK and an international level.
The purpose of MIPIM is to sell these competitive strengths and identify like-minded partners who want to work with the region, seeing a return of investment that will benefit communities in South East Wales financially, economically and socially.
A delegation of representatives will attend the event to both forge new relationships and high-value partnerships, as well as explore and secure opportunities that invest in human capital and new capabilities for all.
Attendees from the CCR will include local authority Leaders Huw Thomas (Cardiff), Andrew Morgan (Rhondda Cynon Taf), David Poole (Caerphilly), Peter Fox (Monmouthshire), and Huw David (Bridgend) together with local authority chief executives Paul Orders (Cardiff Council), Christina Harrhy (Caerphilly Council), and Paul Matthews (Monmouthshire Council).
The full plan can be accessed on the Cardiff Capital Region website.