Wales’ “biggest ever business event” to take place in December

The event will take place on Monday 1^st December at International Convention Centre Wales (ICC Wales) and the Celtic Manor Resort in Newport.

It will focus on promoting Wales as a destination for overseas investors. There are currently around 1,480 overseas-owned companies operating in Wales, employing more than 174,000 workers.  

To coincide with today’s announcement, the US semiconductor design software leader Cadence Design Systems, Inc. has announced plans to open a new design centre in Cardiff, creating more than 100 highly skilled jobs. The Cadence Design Centre, a joint venture with the Welsh Government and the Compound Semiconductor Applications Catapult, will design semiconductor chips, creating a strong pipeline of graduate talent to help address skills shortages in the industry.

Speaking ahead of the Investment Summit, the First Minister 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. The Summit will be a chance to share with the world the wealth of opportunities in our dynamic and future-focused nation.”

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

"We are delighted to host the Welsh Government Investment Summit at ICC Wales and the Celtic Manor Resort.  We look forward to welcoming industry leaders from all over the world to Wales.  

"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.  Timing is also good for the profile and growth of new enterprise communications technology in Wales, utilising AI and the design and fabrication of IoT devices using Compound Semiconductors."

Speaking about the Cadence investment, 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, investment and job creation here in Wales.

“The Design Centre will diversify the range of capabilities the sector here can offer, complimenting the manufacturing capacity, and capitalising on the growing demand for semiconductor microchips.

“At the heart of this joint venture is the recruitment and training of local talent, providing well-paid careers for graduates and creating a robust pipeline of skilled professionals in high-tech industries that directly support our Net Zero Action Plan.”

Martin McHugh, Chief Executive Officer at CSA Catapult, said:

“The creation of the new semiconductor design centre is a significant milestone for the UK semiconductor industry. We are delighted to be working with Cadence Design Systems and the Welsh Government to create a world-leading facility, creating over a hundred new jobs in Wales.

“Through the joint venture we can address the semiconductor skills gap and strengthen the UK’s leadership position in chip design. It builds on the success of the compound semiconductor cluster in Wales and will create new opportunities for the entire UK semiconductor ecosystem. There will be new career paths for graduates of electrical engineering, computer science and physics. With the support of Cadence and the Welsh Government, the new centre will create international partnerships and further investment to the UK.”