Cymraeg

Transforming the Welsh economy with Welsh Governments Action Plan

19/12/2017 00:00:00

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The Welsh Government has revealed an economic action plan with the intent to build an economy on strong foundations whilst developing and supporting future businesses.

The economic plan is aimed to assist businesses and people in competing in the current fast-changing, economic environment. Considering important trends, future scenarios and opportunities, the new economic contract will assist businesses of today to adapt and motivate future industries.

The main objective of the economic action plan is to develop a new and dynamic relationship between Government and businesses, based on the public investment. Wales is open for business as usual and will remain open and competitive for global investors. Priorities are in order to assist businesses maintain trade in Europe while looking to build new export opportunities in other global markets.

The plan has already received some success stories, with Coaltown Coffee supplying 160 cafes and restaurants across South Wales and beyond. With big ideas for further expansion, the independent organisation has since grabbed the attention of Selfidges and upmarket London Department Stores. The organisation has praised the help offered by Welsh Government, for financial and business support which assisted in the growth of their company.

Organisations will have to comply with terms and conditions of a new economic contract, including commitment to staff wellbeing and metal stability. The Welsh Government will consult with businesses and trade unions before finalising the terms of the contract.

This Plan is scheduled for the long-run and whilst actions are set, Welsh Government will continue to evaluate policies, programmes and interventions ensuring they remain relevant to a changing world.

For more information about the Welsh Government Action plan, please visit: http://gov.wales/docs/det/publications/171212-economic-action-plan-en.pdf