NEWPORT'S chances of securing freeport status for the city have sunk after winning bids from two of its competitors.

It means the city will miss out on millions of pounds worth of investment, and the promise of "new, high-skilled" jobs, which will instead head to other parts of Wales.

Mystery surrounded the future of Newport's freeport chances last year when a secretive bidding process closed. At the time, the UK Government would not reveal the sources of the three applicants, but Newport had previously indicated it would throw its hat into the ring.

Earlier this month, city council leader Jane Mudd confirmed this, writing in the Argus that the freeport "could be a game changer for Newport and South East Wales".

Today, Wednesday, the Welsh and UK governments jointly announced successful bids by Anglesey and also by a joint venture between Milford Haven and Port Talbot called the Celtic Freeport.

The announcement was made to much fanfare, with Rishi Sunak, Mark Drakeford and Welsh secretary David Davies all talking up the freeports' potential for driving economic growth and creating jobs.

But amid the celebrations, there was no mention of the third site to bid for freeport status - an attempt which ultimately fell short.

Speaking at the start of March, Cllr Mudd said the city's freeport bid could bring "significant benefits - the creation of thousands more jobs, an already established infrastructure and the potential for a hi-tech sector on our doorstep to become a global leader".

But, in the end, the Anglesey and Celtic freeport projects proved more attractive to ministers. 

The UK Government said the "rigorous" selection process had challenged applicants to show how they would "regenerate local communities, establish hubs for global trade and foster an innovative environment to support levelling-up".

The two successful bidders both showed "a strong determination to create high quality jobs in the green energy sectors", the government added.

What benefits do you get with a freeport?

Freeports are special areas within the UK’s borders where different economic regulations apply, including tax and customs incentives to boost investment.

It is claimed the two successful bids in Wales will create more than 20,000 new jobs and will be backed by up to £26 million each in UK Government funding.

Prime minister Mr Sunak said: "Wales is a thriving part of the UK, and today’s new Freeports will see businesses and opportunities for people in and around Anglesey, Port Talbot and Milford Haven go from strength to strength."

Mr Drakeford, the first minister of Wales, said the freeports plan complemented the Welsh Government's own "economic mission" for a "stronger, greener" future.