Partners sign key Freeport agreement

A major new economic project in north Wales has taken a step forward after a formal agreement between governments and local partners unlocked millions of pounds in funding.

Anglesey Freeport has moved closer to becoming operational after a Memorandum of Understanding (MoU) was signed by the UK Government, Welsh Government and Isle of Anglesey County Council.

The agreement releases £25 million in initial funding and allows the project to progress towards full operation by spring 2026.

The Freeport is expected to focus on sectors including low-carbon energy, advanced manufacturing and international trade, with supporters saying it could play a key role in boosting investment and employment across the island and wider north Wales.

Freeports are designated areas where certain tax and customs rules are relaxed to encourage investment and economic activity.

Supporters say the Anglesey scheme could act as a major driver of growth for the island and the wider north Wales region.

Council leader Gary Pritchard said the deal marked an important moment for the project.

“Anglesey Council is pleased to sign the Freeport Memorandum of Understanding because it represents a major milestone in delivering new economic opportunities for the island. The agreement confirms a shared commitment with both governments, and Stena Line to establish a Freeport that can attract investment, support innovation, and create skilled jobs for local communities.

“Securing seed capital is especially important, as it allows essential early work to begin and demonstrates confidence in Anglesey’s strategic potential. With this foundation in place, the Council with other partners can accelerate plans that strengthen the island’s role in energy, manufacturing, and trade, helping drive long-term prosperity across Ynys Môn and North Wales.”

Partnership

The project is being delivered as a partnership between the council and Stena Line, which operates Holyhead Port. Preparatory work, including governance arrangements, site planning and engagement with landowners, is already underway.

Ian Hampton, executive chair of Stena Line UK, said the agreement signalled the start of the Freeport’s operational phase.

“We welcome the approval of Anglesey Freeport’s memorandum of understanding with the Welsh and UK governments. This announcement marks the start of Anglesey Freeport’s operational stage, following the work undertaken to date to secure Freeport status, finalise our business cases, and prepare our tax sites for investment.

“We are grateful to the UK and Welsh governments for their ongoing support and will continue to work with both governments and all Freeport partners to deliver our vision of providing jobs and economic growth for Anglesey and North Wales, while protecting the Welsh language and culture.”

The Freeport will include six designated sites across the island, including locations at Parc Cybi, M-SParc and former industrial sites at Rhosgoch and Amlwch.

Framework

Anglesey’s chief executive Dylan J. Williams said the agreement provided a framework for delivery.

“This brings together all partners behind a shared commitment to deliver new opportunities, investment and skilled jobs for our communities.

“The MoU provides the framework we need to work effectively with both Governments, Stena Line and other partners as we look ahead with confidence to the delivery phase later this year. Anglesey Freeport represents a significant opportunity, and today’s formal agreement strengthens our ability to realise those ambitions.”