Innovation and the Economy: Preparing for Wales’ future

Guest Lecture by Rt Hon Carwyn Jones AM, The First Minister for Wales

• Uncertainty period of the economy, we are facing strategic challenges.
• Innovation is the key to address such global challenge.
• Example: When New Zealand lost their daily market. Then they went to wines market and won it because their innovative. Hence, Wales needs to do so.
• Thus labor market requires more skills. And this challenges the government to support the innovation for developing higher skilled labour.
• Needs for collaboration between education and private sector.
• But Wales still lacks of R&D which are world class, needs for more concentration and effort to get more research fundings.
• Sample of Innovation that drives business in Wales link

Q&A

• Q1: Securing funding for research in Wales (Availability)?
  A1: Research funding should not be easy to get, then achieving research quality and reaching the world class research.
• Q2: Value that Wales could bring to the world, Do you think that Wales can have own currency?
  A2: NO, the problem of EURO is also from the world economy. The current problem with our economy is confident.