Assembly's economic aims for 2010

Create 135,000 jobs, including 20,000 in business and finance Increase business spending on research and development to more than 1% of Welsh GDP Increase numbers of adults with qualifications to 90% Raise the proportion of firms using electronic commerce up to UK average

But it comes in the week Westminster's new jobs figures show Wales now has 7,000 fewer jobs than last year

And ministers had earlier set highly ambitious targets for creating 135,000 jobs by 2010 in last year's grant Winning Wales economic blueprint.

Officials will report fully to the economic development committee on 22 May on their progress.

But, in a statement issued Friday, they played up "a record number of grant offers made to businesses, more jobs created and safeguarded, and increased funds."

The �444.4m of public investment in the Welsh economy included:

• An extra �33.4m boost to the national budget for Wales.

• Grants totalling �143.3m were offered to 270 businesses.

• Those grants come with a forecast �642m investment boost to the economy.

They have gone to companies such as Llanelli's Calsonic manufacturer, Cardiff's BTignite data storage centre and Llanberis medical products maker EURO DPC.

Achievement applauded

Economic Development Minister Andrew Davies applauded his department.

"This record level of investment in economic activity will set the foundations for building a 'winning' Welsh economy over the next 10 years," he said.

"Our programmes are specifically designed to help existing Welsh companies to grow, become more competitive and encourage the development of new knowledge-based ventures and industries.

"The record value of grants offered by the Welsh Assembly last year to companies in Wales are expected to generate a significant number of new jobs in the future."

He also happily cited recent figures from the administration's three main economic development agencies.

• Welsh Development Agency helped cerate over 26,000 jobs.

• Wales Tourist Board created or safeguarded 1,063 positions.

• International exports division WalesTrade helped win �62m in business - up �23m.

But the assembly's end-of-term report puts a gloss on what has become a mixed bag in the jobs department.

BBC Wales' business and industry correspondent Miles Fletcher said the assembly had, in some instances, merely helped to move jobs between north and south Wales.

"What they are doing is simply replacing jobs being replaced elsewhere," he said.

"Jobs figures out this week shows 7,000 fewer in employment this May than last May.

"When you think the assembly is trying to take our GDP performance from 80% of the UK average to 90%, they've got an awful lot in front of them."

That would involve outperforming the English economy, he said.