Welsh Development Agency show increase in annual report

Inward investment projects in Wales handled by the Welsh Development Agency increased by 44 per cent over the last year, creating or safeguarding 15,000 jobs, the organisation's annual report showed yesterday.

David Rowe-Beddoe, chairman, said the main reason for the pounds 900m investment by overseas firms was the reputation of the workforce for commitment, skills and productivity - although sceptics also point to the low wages in the principality. The report does not include details of the recent announcement by LG, the Korean electronics giant, of a pounds 1.7bn investment that will create 6,100 jobs.