THOUSANDS of jobs could be coming to Gwent through plans by the Welsh Develop-ment Agency to boost business in the next 12 months.

It announced today it is aims to help 4,000 businesses start up in the coming financial year and to assist existing companies to create 15,000 jobs.

Out of the total target figure of 31,000 jobs created and safeguarded, it is intended that nearly 22,000 will be located in the Objective 1 (Euro cash-funded) area of Wales, which includes the Gwent valleys.

The WDA's business plan for 2002/2003 sets out the detailed programme planned to meet the targets set for it by the National Assembly.

Chief executive Graham Hawker, who is from Gwent, said Wales had too few businesses. Among the problems was the slow rate of business start-ups. "Our business survival rate is one of the best in the UK, which perhaps demonstrates the effectiveness of our business support activities," he said.

"But the fact remains that the number of Welsh businesses per head currently lags behind the UK figure by almost 10 per cent."

To generate more new business, the WDA will, among other programmes, step up the implementation of an entrepreneurship action plan, ensure maximum use of cash and an adequate supply of premises for new ventures.

The main targets which it will aim for during the year are: Creating 15,000 jobs by assisting companies to start up or to grow - the comparable figure for the current financial year is likely to be around 14,700; Safeguarding 16,000 jobs by encouraging companies to enhance products and processes - this financial year's out-turn is expected to be some 13,600; Assisting the launch of 4,000 businesses - this year's figure will be close to 3,000; and Levering £620 million of private sector investment - this year £550 million. Mr Hawker said: "We need to get more people in Wales on to the escalator of paid employment and we need those who are on it to travel upwards in terms of what they are paid.

"Also, the old debate about whether we should seek inward investment or support indigenous businesses is sterile. The truth is that this is not an 'either-or' situation."