Gwent has ambition and vision in spades, according the chief executive of UK Trade and Investment, Dominic Jermey.

Mr Jermey was speaking to Business Argus at the UK Investment Summit, held at the Celtic Manor Resort last week.

Mr Jermey, who had toured a number of local businesses the previous day and who had also been given a presentation by Newport City Council and Queensberry Real Estate on the regeneration of Newport and the Friars Walk development, said: "The first thing it takes to attract investment to an area is ambition and vision and you have got that in spades.

"In Gwent you have have got some great assets like the location, the transport links, the lifestyle, the university in Newport which there is a vision for. You've got Simon Gibson, a man who has 'cred' and Terry Matthews. There is a buzz factor, a glow, about the two of them."

About 200 representatives of businesses and organisations from all over the world attended the conference, which was addressed by Prime Minister David Cameron, First Minister Carwyn Jones and Sir Terry Matthews, who owns the Celtic Manor Resort.

Mr Jermey said: "You are very lucky to be able to stage an event like this here in Newport. These people have come to Newport to find out more about investing in the UK."

The day long conference was aimed at promoting Wales and the whole of the UK as a great place for businesses to invest in. Airbus, Pinewood Studios and GlaxoSmithKline were among businesses spreading the message.

Mr Jermey visited Friars Walk with Welsh Secretary Stephen Crabb and were joined on site by Newport city council leader Cllr Bob Bright, the council chief executive Will Godfrey, and Martin Tresidder, senior development manager at Queensberry Real Estate.

Mr Jermey said: “It’s fantastic to see this new retail and leisure development at Friars Walk gathering pace, right at the heart of Newport city centre. This is part of Newport’s transformation into a digital, modern city, up with the best places in the UK to live.

“Regeneration projects like this are precisely why we chose to hold our UK Investment Summit here in Wales, in the midst of these exciting business opportunities for investors from around the globe.”