The independent expert advisory panel advising the government on the design of the new economic development agency met for the first time in Cardiff yesterday.
- Advisory panel on new economic development agency meets for the first time.
- The panel is expected to sit for approximately six months before producing its report and recommendations.
- Welsh businesses and other key stakeholders will be asked to provide input on the design of the agency.
The panel of 11 renowned business experts, led by Chair Jonathan Lewis, met with the Cabinet Minister for Enterprise, Connectivity and Energy, Adam Price.
The inaugural meeting established an understanding of the current economic landscape and emerging issues, and saw discussions begin on priorities for the panel's future work. They also began the process of reaching out to member organisations such as CBI, FSB and Make UK and discussed how they would engage with other businesses across Wales to gather evidence and ideas.
The panel is expected to sit for approximately six months before producing a report and recommendations.
The recommendations from the panel will be a central component of the Welsh Government programme to deliver the new agency.
Cabinet Minister for Enterprise, Connectivity and Energy, Adam Price, said:
“We have a generational opportunity to reshape how economic development is delivered here in Wales, with a modern institution designed around the needs of today’s businesses and the future Welsh economy.
“Today’s first panel meeting discussed the need to draw on the experience of businesses and organisations across Wales to understand the challenges and barriers they face, and to identify where a new agency can add real value, unlock investment and support stronger economic growth.
“My vision is for an agency that builds sustainable strength in the Welsh economy as we pursue our ambitious target to halve the productivity gap between Wales and the rest of the UK within ten years.”
Panel Chair, Jonathan Lewis, said:
“The business opportunity available to us in Wales is significant. As an independent panel we will advise government what the agency should focus on.
“That work began at pace today, with discussions between experienced, senior businesspeople, who have all volunteered their time and expertise to feed a strong business voice into this process.
“It is important that voices beyond the panel also shape the design of the agency too and we will be consulting with businesspeople, unions, existing entities supporting business and other key stakeholders throughout Wales. I am determined that this will be an inclusive process.
“I look forward to seeing where the evidence, the expertise of the panel members, and the views of Welsh businesses and other key stakeholders can lead us.”
