Welsh Economy Minister’s address at techUK Compound Semiconductor event
On Monday 4th March, techUK hosted our first Semiconductor programme event of 2024, focusing on one of the UK’s top strengths- The Welsh Compound Semiconductor Cluster.
We were delighted to present an address from the Welsh Economy Minister, Vaughan Gething MS in which he outlined the strategic importance of this sector, and its role in the wider Digital Economy for both Wales and the entire UK. You can watch the full video here:
Investment zones
Vaughan Gething MS highlighted the two new Welsh investment zones, agreed with the UK Government. In March 2023, the UK Government announced 12 new investment zones, in which a series of measures focusing on business support, infrastructure and tax incentives would be established.
In November 2023 this then expanded to include an additional Investment Zone in North Wales, with each zone receiving support totalling £160m over at least five years.
In North-East Wales, the zone will cover Flintshire and Wrexham, fostering new growth and investment around Advanced Manufacturing capabilities and the creative sector.
The second investment zone, will focus on the Compound Semiconductor cluster around South East Wales, encompassing Cardiff University. The Minister mentions how this will capitalize on the pre-existing world class Compound Semiconductor cluster in South Wales.
“We want to see more private investment in high quality jobs, skills, and productivity to boost the Welsh digital economy, with compound semiconductors, at the forefront of this growth.”
Welsh tech ecosystem
Vaughan turned his attention then to the Welsh tech sector long-term, mentioning how already there is likely a Welsh component in audience members' phones. This is a reference to Cardiff-based IQE, that holds a 55% market share in global compound semiconductor production, including materials used for facial recognition, and equipment built by Newport-based KLA.
The Minister showcases the importance of the Welsh cluster in achieving both Welsh and UK long-term tech objectives. For example, the role Compound Semiconductor's play in pursuing Net Zero, from solar energy to Electric Vehicles, as well as medical devices and consumer electronics.
“The Welsh cluster globally exports more than 95% of its products, contributing close to £500m in exports every year - around 3% of all Welsh manufacturing exports. Direct and indirect employment increased 9% last year to more than 2,600.”
Welsh Government support for the Cluster
The Minister concludes by outlining ways in which the Welsh Government has supported this cluster, for example international trade trips to the US, Japan, Taiwan and Germany.
Large international companies have anchored their firms within Wales, due to the high-quality skills, infrastructure and collaboration available.
techUK is delighted to have been able to host this session, highlighting both the global expertise in semiconductors but importantly showcasing this strong example of innovative technology being delivered and developed in the Nations and Regions.
The 2022 and 2023 editions of techUK’s Local Digital Index have made specific recommendations on Investment Zones, noting they should prepare the country for the role of new technology, provide strong digital infrastructure and be expedited at pace.
techUK looks forward to working with the Welsh Government, semiconductor sector and wider tech sector in Wales alongside our new Nations and Regions Council to help champion and grow the UK’s digital economy.
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