3. Statement by the Minister for Economy: Moving the Welsh Economy Forward

Part of the debate – in the Senedd at 3:18 pm on 19 October 2021.

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Photo of Vaughan Gething Vaughan Gething Labour 3:18, 19 October 2021

I think there were two questions at the end of that, and on the first, on the life sciences sector, it is a key opportunity for us. Now, the health Minister, Eluned Morgan, and I have had conversations about this in the previous term, in our different roles, and again during this term as well, because we do recognise that this is an area where Wales does punch above its weight, and there are good jobs, high-wage jobs. We’ve already seen some more of those coming into Wales for the future. We think we can get more. It is, of course, linked to innovation spend across the UK, and we’re now dealing with a new innovation Minister, as Lord Bethell in no longer in the Government. It’s Lord Kamall now who’s dealing with this from a UK perspective, and I think there are real opportunities for Wales that Eluned Morgan and I are keen to take up.

And when it comes to university-led science parks, I wouldn't be quite be so doctrinal about there being one model, but I do think, given that part of my responsibility as the science Minister for the Government, in the conversation I had last night with the Wales Innovation Network, there is real opportunity for gains to be made between academic co-operation and businesses, and to apply the knowledge that’s gained, whether it’s an individual project or indeed on clustering those groups together. So, I’m looking for opportunities to make that real, and I think we’re going to see more of those coming in the future, and it’s a real necessity if we are to have the high-skill, high-wage economy that all of us wish to see.