International Business Wales
Encyclopedia
On Monday 5 July 2010 the Welsh Assembly Government
announced plans to transform the way it supports businesses and the Welsh economy. 'Economic Renewal: a new direction’ is a vision to make Wales “one of the best places in the world to live, to work and to thrive”.
As part of the transformation functions previously supported by International Business Wales, Trade and Inward investment, can be accessed directly through the Welsh Assembly Government
; or by visiting the Trade and Inward investment website or calling (+44) 1443 845500.
International Business Wales (IBW) is a development agency of the Welsh Assembly Government
set up with the remit of delivering support to help companies establish themselves in Wales
. Once established in the country, companies are allocated a Relationship Manager with the skills to help grow the business and are offered a relocation service that helps their executives settle there.
and Wales Trade International.
Sitting under the Department for the Economy and Transport (DE&T) IBW is tasked with developing international trade, and attracting inward investment
, relocation and international collaboration.
Over 500 international companies are located in the country including many of the world’s largest multinationals such as Ford
, EDS
and Alcatel
.
criticised International Business Wales officials for running up a bill of £750,000, on 35 different corporate credit card accounts for the year June 2008 to end of May 2009, at the tax-payers expense. Liberal Democrat leader Kirsty Williams
AM said:
First Minister Rhodri Morgan
at first refuted the allegation. He later publicly apologised in a letter to Kirsty Williams and said that he had been misled by IBW officials, whom he had believed at the time:
He added that he was setting up an investigation and independent review:
Malcolm Duncan, Managing Director of Blaenavon-based Super Rod, who heads up the support group said:
Welsh Assembly Government
The Welsh Government is the devolved government of Wales. It is accountable to the National Assembly for Wales, the legislature which represents the interests of the people of Wales and makes laws for Wales...
announced plans to transform the way it supports businesses and the Welsh economy. 'Economic Renewal: a new direction’ is a vision to make Wales “one of the best places in the world to live, to work and to thrive”.
As part of the transformation functions previously supported by International Business Wales, Trade and Inward investment, can be accessed directly through the Welsh Assembly Government
Welsh Assembly Government
The Welsh Government is the devolved government of Wales. It is accountable to the National Assembly for Wales, the legislature which represents the interests of the people of Wales and makes laws for Wales...
; or by visiting the Trade and Inward investment website or calling (+44) 1443 845500.
International Business Wales (IBW) is a development agency of the Welsh Assembly Government
Welsh Assembly Government
The Welsh Government is the devolved government of Wales. It is accountable to the National Assembly for Wales, the legislature which represents the interests of the people of Wales and makes laws for Wales...
set up with the remit of delivering support to help companies establish themselves in Wales
Wales
Wales is a country that is part of the United Kingdom and the island of Great Britain, bordered by England to its east and the Atlantic Ocean and Irish Sea to its west. It has a population of three million, and a total area of 20,779 km²...
. Once established in the country, companies are allocated a Relationship Manager with the skills to help grow the business and are offered a relocation service that helps their executives settle there.
IBW Structure
IBW provide the trade and investment arm of the Welsh Assembly Government. Established in 2006, it brought together the responsibilities of the former Welsh Development AgencyWelsh Development Agency
The Welsh Development Agency was a QUANGO and later an Assembly Sponsored Public Body established in 1976 to encourage business development and investment in Wales, to clear derelict land and to encourage growth of local businesses...
and Wales Trade International.
Sitting under the Department for the Economy and Transport (DE&T) IBW is tasked with developing international trade, and attracting inward investment
Inward investment
Inward investment is the injection of money from an external source into a region, in order to purchase capital goods for a branch of a corporation to locate or develop its presence in the region....
, relocation and international collaboration.
Track record
IBW claims it has an impressive track record with Wales being one of Europe’s most successful investment locations. With a population of 2.9 million and a workforce of 1.3 million, Wales has attracted over £16.8 billion of capital investment and over 282,000 jobs have been created or safeguarded through inward investment (between 1983 and March 2008).Over 500 international companies are located in the country including many of the world’s largest multinationals such as Ford
Ford Motor Company
Ford Motor Company is an American multinational automaker based in Dearborn, Michigan, a suburb of Detroit. The automaker was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford and Lincoln brands, Ford also owns a small stake in Mazda in Japan and Aston Martin in the UK...
, EDS
Electronic Data Systems
HP Enterprise Services is the global business and technology services division of Hewlett Packard's HP Enterprise Business strategic business unit. It was formed by the combination of HP's legacy services consulting and outsourcing business and the integration of acquired Electronic Data Systems,...
and Alcatel
Alcatel-Lucent
Alcatel-Lucent is a global telecommunications corporation, headquartered in the 7th arrondissement of Paris, France. It provides telecommunications solutions to service providers, enterprises, and governments around the world, enabling these customers to deliver voice, data, and video services...
.
Area covered
IBW offer support to companies looking at Wales as a business destination for expansion/relocation as well as supporting the companies located in the country with their international trade requirements.- Inward Investment - project management support to advise companies on all aspects of relocation from grants and skilled workforce availability through to property searches and a relocation service for business people under the “Welcome to Wales” programme.
- International Trade - services for both native Welsh companies and international business looking for a trade partner in Wales, with support from advisors. IBW provide support tailored to company import and export needs.
Criticism
In July 2009, using information obtained from a Freedom of Information request to the Welsh government, the Welsh Liberal DemocratsWelsh Liberal Democrats
The Welsh Liberal Democrats are one of the three state parties of the federal Liberal Democrats and operate within Wales, the others being the Scottish Liberal Democrats and the Liberal Democrats in England....
criticised International Business Wales officials for running up a bill of £750,000, on 35 different corporate credit card accounts for the year June 2008 to end of May 2009, at the tax-payers expense. Liberal Democrat leader Kirsty Williams
Kirsty Williams
Victoria Kirsty Williams is a British politician. She is the leader of the Welsh Liberal Democrats and the Member of the Welsh Assembly for Brecon and Radnorshire.-Early life:...
AM said:
- "In the middle of a recession it's disgusting to know that public officials are flying first class, staying in the most expensive hotels, eating in the best restaurants - all at the swipe of the Welsh credit card."
First Minister Rhodri Morgan
Rhodri Morgan
Hywel Rhodri Morgan is a Welsh Labour politician who, as First Secretary for Wales, and subsequently First Minister, was leader of the Welsh Assembly Government from 2000 to 2009. A former leader of Welsh Labour, he was the Assembly Member for Cardiff West from 1999 to 2011...
at first refuted the allegation. He later publicly apologised in a letter to Kirsty Williams and said that he had been misled by IBW officials, whom he had believed at the time:
- "I stated, on the clear and explicit advice from the relevant senior officials that no officials from IBW (International Business Wales) had flown first class. Today I have learned that this is not the case. I apologise for having misled you and the wider public."
He added that he was setting up an investigation and independent review:
- "I need hardly say how disturbed I am by this latest information now to hand. I am instructing the Permanent Secretary to undertake an immediate and thorough investigation and audit of IBW's expenditure and audit systems. This review will be led from outside the Assembly Government."
Support
Following the July 2009 press coverage a group of Welsh exporters have shown their support for International Business Wales, calling on politicians to "stop playing politics" with the organisation.Malcolm Duncan, Managing Director of Blaenavon-based Super Rod, who heads up the support group said:
- "I understand the need for the public to be kept informed about the activities of any Government department. But what does worry me is when politicians start to play politics with these departments, that could ultimately have a detrimental effect on both business and our economy as a whole."
External links
- International Business Wales
- International Business Wales - India
- Visit Wales
- Welsh Assembly Government
- Business in Wales
- Financial Times – Doing Business in Cardiff and Wales supplement – Tuesday July 7 2009
- CNBC - Washington Trade Mission - CNBC News story around IBW supporting over 80 Welsh companies to establish business links with major U.S. companies such as BoeingBoeingThe Boeing Company is an American multinational aerospace and defense corporation, founded in 1916 by William E. Boeing in Seattle, Washington. Boeing has expanded over the years, merging with McDonnell Douglas in 1997. Boeing Corporate headquarters has been in Chicago, Illinois since 2001...
and NASANASAThe National Aeronautics and Space Administration is the agency of the United States government that is responsible for the nation's civilian space program and for aeronautics and aerospace research...
.