A shared vision for our economy
The Mid Wales and South West Wales Regional Economic Frameworks are integral to our commitment to a place-based model of economic development where we build on and work with the distinctive strengths of our regions. They set out not just what we must do, but how we must do it. They focus not only on the decisions we must make, but the ways in which we must go about making them. And they will set out the roles and responsibilities we all have to play if our future vision for the economy is to be realised.
The frameworks have been shaped through engagement with a broad range of partners, including local authorities and regional bodies as well as input from the private sector. They are based on evidence and agreement, with clear priorities that are aligned with our framework for regional investment, the economic mission and, of course, the programme for government. This mature approach builds upon the foundations of the Welsh Government's nationwide Economic Action Plan 'Prosperity for All', which outlines the basis for a stronger regional voice in Wales' economic development, and the Wellbeing of Future Generations Act which requires public bodies in Wales to think about the long-term impact of their decisions and to work better with people, communities and each other.
Mid and South West Wales regional office, working alongside key LA partners and wider stakeholders will now start to scope the next phase of Regional Economic Framework related activity, detailing how the Regional Economic Frameworks can be operationalised and delivered, as well as consideration of appropriate measurement frameworks which go beyond traditional measures to capture wider economic wellbeing aligned to the Well Being of Future Generations Act. Continued stakeholder engagement and participation can also ensure that we continue to adopt the principles of co-production in our approach to regional economic development.
The stakeholder engagement and participation document below was produced prior to the outbreak of the Covid-19 pandemic. Whilst much has changed for our region, Wales and the world since then, it still provides valuable detail and insight to support our conversations through this process of engagement and co-production.