The Welsh Government wants Wales to become the best place to start a new business.

This was indicated by economy minister Jeremy Miles in a forward-looking statement about the fate of Wales' economy.

He elaborated, "We want our entrepreneurs, businesses and our workforce to thrive in all regions of Wales.

"To accomplish this, I want us to set ourselves the ambition to make Wales the best place to start, invest in and grow a business in the United Kingdom."

According to Mr. Miles, their vision for the economy is one that transitions fairly to a sustainable future, creating high-quality opportunities for the younger generation.

To translate these objectives into reality, the Welsh Government has set three key priorities.

First, they seek to boost productivity by investing in skills, fostering innovation, entrepreneurship, and encouraging export support.

Mr. Miles mentioned the need to align "the work of universities, investors, entrepreneurs, existing businesses, and Government around our key economic priorities."

The second priority is aimed at attracting and encouraging business investments across Wales.

Mr. Miles believes this will help create good jobs while stimulating the growth of Welsh enterprises of all sizes.

This objective requires a collective effort between different levels of government and a focus on sectors that align with existing assets in Wales.

The third focus area is modifying the employability and skills support to help the workforce and those seeking employment adjust to changing realities.

As part of this, the government plans to implement the Net Zero Skills Plan, which is crucial to achieving a net-zero Wales.

Mr. Miles emphasised the importance of the skills sector, stating, "Skills are critical to improving productivity and crucial to delivering on the economic opportunities from our transition to a net-zero Wales."

He also pinpointed the role of energy transition in achieving their economic targets, stating: "We must lead the current industrial revolution in our energy system to bring a just transition to a low-carbon energy system and to drive a circular economy to focus upon economic and environmental opportunities."

He mentioned that Wales is quick to seize the opportunities presented by Floating Offshore Wind, feeling confident about the significant rewards for Wales.

Despite the existing financial constraints and political and economic uncertainty at the UK level, Mr. Miles seemed optimistic about the future.

He emphasised the Welsh Government's commitment to supporting strategic opportunities for growth, even amidst the potential job losses at Tata.

Lastly, he highlighted the inclusion of economic policy and the Welsh language within the same ministerial portfolio for the first time.

This move was deemed crucial to the economic development of communities where Welsh is widely spoken.

He stated: "The economic health of those communities is fundamental to the future flourishing of Welsh."

In the coming weeks, external expertise will be sought to accelerate growth opportunities, focusing on areas such as sustainable employment, future skills needs, the impact of artificial intelligence, and firm-level productivity and business support.