The Welsh government is following the Manx government by using Pinewood Shepperton plc to manage its media investment fund.
Treasury Minister Eddie Teare MHK, who has faced a barrage of criticism since the Manx deal was made, has welcomed the news.
Pinewood will advise on the new £30m television and film investment fund for Wales and operate a new facility ‘Pinewood Studio Wales’ to be developed at Cardiff Bay.
Mr Teare said: ‘This is good news for the island’s investment in Pinewood, showing that the company is continuing to develop strongly.
‘Its combined advisory funds now total £55 million, making Pinewood one of the largest regional investment portals for new British television and film content.
‘‘The fact that the Welsh government is now following the Isle of Man’s example is an endorsement of our strategy of investing in media to diversify the island’s economy, and our choice of Pinewood as a partner in pursuing that strategy.’
Pinewood Studios is home to some of the best-known films, including the James Bond series.