Welsh Government's Inward Investment Strategy 'opaque' And 'crowded And Confusing', Business Body Cl

It said there had been criticism within the sector of a lack of brand awareness and a lack of visibility after the controversial abolition of the Welsh Development Agency (WDA) in 2006, which had yet to be resolved. It called for the Welsh Government highlight the role of small and medium-sized businesses (SMEs) in the supply chain as part of its strategy. The FSBs evidence follows criticism from experts last week on the quality of the inward investment strategy in Wales in the post-WDA era, with the director of the Welsh Economy Research Unit at Cardiff University, Professor Max Munday, saying Wales had lost ground consistently to EU competitors since the body disappeared, and said a new arms-length body should be considered. Welsh Conservatives launched a policy last week in which it called for a private-sector led Investment Council to prioritise attracting foreign firms and keeping them in Wales, which bears the hallmarks of a modernised WDA-style body. In its evidence, the FSB said: The Welsh Governments approach to industrial policy is at present crowded and confusing for many businesses. FSB Wales has previously voiced concerns about the Welsh Governments sector-based source Elevation Group approach which serves to carve out the economy on the basis of desirable sectors.












Latrobe shifts investment strategy to stay flush





City Manager Alex Graziani said improved management of pension obligations a along with increases in the earned-income tax and other revenue sources, including garbage and parking rates a have contributed to aright sidea city finances. The city had been projected to have a deficit by 2016. City officials entered the state's Early Intervention Program last year in an attempt to thwart oversight by a state-appointed receiver through Act 47, the Financially Distressed Municipalities Act. aI think we were able to distance ourselves a great deal from that (Act 47) threshold,a Graziani said. Council members have worked with investment bankers to adjust the city's pension funds. aWe still have a long row to hoe, but we're off the radar screen,a Councilman Mike Skapura said. Before 2011, Latrobe mainly relied on low-interest CDs and mutual funds for interest, while stocks represented a smaller percentage of the city's portfolio, said Elaine Rose Bohatch, chief investment officer with Commercial Bank and Trust of PA in Greensburg.