Additional written evidence is contained in Volume 3, available on the Committee website at www.parliament.uk/welshcom

This title was first published in 2002. This compelling text provides fresh insight into an area that is often touched upon, but rarely examined in any great detail - the relationship between Multinational Enterprises (MNEs) and their host governments. Taking Japanese Foreign Direct Investment (FDI) strategy, arguably the model of FDI, Young-Chan Kim takes a revealing look at why the United Kingdom (UK) has dominated among the EU member states for FDI destination, while ironically losing its nationalized car manufacturers. Scholars of business history, international business and business economics will find this work invaluable.

The book considers the determinants of the regional distribution of foreign manufacturing investment in the UK. The core theme of the book is that foreign firms coming to the UK seek in their location decision to minimise their costs of production. This minimisation of production costs is constrained by the need to ensure that they are adjacent to their key markets, whether these be in the UK or wider EC.

This report calls on VisitBritain and Visit Wales to jointly develop, by February 2015, a coherent strategy for promoting Wales as a first choice destination for international visitors to the UK. While the current number of international tourists to Wales remains below pre-2006 levels, there is substantial potential for growth in Wales' tourism market. Wales has some of the most spectacular landscape in Britain and Europe, a unique culture, language and history, dynamic cities, and offers a range of activities and a high quality of life. Wales' potential as a tourist destination is being undersold and there is concern that Wales still has a low profile overseas compared to other parts of the UK The tourism bodies Wales need to grasp this opportunity and maximise Wales' potential as a destination. UKTI should be mandated to begin to address the great disparities in wealth and investment across the UK, and the Committee calls for a dedicated Welsh trade promotion agency, to drive inward investment into Wales. Wales has masses of unfulfilled potential for increasing tourism. The responsible agencies in Cardiff and London and the respective Ministers need to work together more to maximise opportunities

This Welsh Affairs Committee report, "Globalisation and its impact on Wales" (HC 184-I, ISBN 9780215526373), examines the effects of global trade on a variety of economic sectors, including employment and skills, broadcasting, and food supply and production. The Committee found evidence of existing skills gaps in Wales, for example in specialist areas such as science, and recommends that to avoid dependence on low skilled, low paid jobs, the UK and Welsh Assembly Governments work with the higher education sector to raise the skills base. Universities are the drivers of the knowledge economy, which is key to success in the global marketplace. The Committee believes it is imperative that the UK and Welsh Assembly Governments fully integrate the commercial potential of higher education into their policies. Welsh companies can increase their value and stimulate the local economy by exploiting a strong local identity and values, and by making use of higher level and specialist skills to offer premium goods and services that cannot be sourced abroad, particularly in the farming and food production industries, where Wales is developing a global reputation for excellence. Also in the report, the Committee: welcomes the use of innovative methods of broadcasting used by S4C to engage with audiences outside Wales; recommends the commissioning of more programmes reflective of Welsh identity; supports initiatives helping Welsh companies to exploit their global potential in the creative industries.

The inauguration of the National Assembly of Wales creates a new opportunity to consider the economic agenda for Wales. This thought-provoking collection of papers carefully considers the recent past and makes a detailed analysis of the many facets of the regional economy. Individual chapters cover foreign investment, transport, small businesses, earnings, the rural dimension and outline the policy perspective. The book then looks forward and outlines the policy options for change which may provide a prosperous future for the region in an increasingly competitive world. For more information about the Welsh Economy Research Unit at Cardiff University, visit www.weru.org.uk