Welsh Government Investment Summit Announced for December in Newport

Wales is set to take centre stage in December with the announcement of the Welsh Government Investment Summit – the largest business event ever held in the country. Scheduled for Monday, 1 December, the event will be hosted at the International Convention Centre Wales (ICC Wales) and the Celtic Manor Resort in Newport.

Unveiled by First Minister Eluned Morgan, the Summit will spotlight Wales as a prime destination for international investment, showcasing its dynamic sectors including semiconductors, creative industries, and green energy. Wales is currently home to around 1,480 overseas-owned companies employing over 174,000 people.

Coinciding with the announcement, US-based Cadence Design Systems, Inc., a global leader in electronic design automation software, revealed plans to establish a new design centre in Cardiff. This joint venture with the Welsh Government and the Compound Semiconductor Applications Catapult will create over 100 highly skilled roles and help develop a robust talent pipeline in the semiconductor sector.

First Minister Eluned Morgan said:

“Wales is rapidly building strength in industries which are shaping the world, from semiconductors for mobile phones and electric vehicles to our celebrated creative industries, exporting TV and film to audiences around the globe. Economic growth is my top priority and I’m looking forward to welcoming major players to the biggest ever business event to take place in Wales.”

Sir Terence Matthews, Chairman of The Celtic Collection, commented:

“The Summit is a great opportunity for Welsh businesses to attract investors and boost the economy. Events like this are the reason why we built ICC Wales, because business events are so important to making connections and facilitating trade and investment.”

The new Cadence Design Centre will play a pivotal role in advancing Wales’ semiconductor capabilities, focusing on the design of advanced chips and addressing sector-wide skills shortages. The venture also supports the Welsh Government’s broader economic strategy, including its Net Zero Action Plan.

Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning, said:

“Cadence’s exciting partnership with Welsh Government and Compound Semiconductor Applications Catapult not only reinforces the international confidence in Wales’ world-class semiconductor sector but also demonstrates our commitment to working with businesses to create the right conditions and opportunity for growth.”

Leaders from across the UK semiconductor ecosystem have hailed the investment as a major step forward for the South Wales Semiconductor Cluster, underlining the region’s growing role in a trillion-dollar global industry.

Martin McHugh, CEO of CSA Catapult, said:

“This joint venture will create new opportunities for the entire UK semiconductor ecosystem… The new centre will create international partnerships and further investment to the UK.”

Dr Wyn Meredith, Chair of CSconnected, added:

“This is a prime example of the spirit of collaboration that has fuelled the growth of semiconductor activity in the region.”