What are the main opportunities and challenges for the REGP
The REGP will directly advise the CCR regional cabinet - made up of the 10 council leaders across the region - and will be responsible for reviewing the regional economic strategy and advising on City Deal investment proposals.
Andrew Morgan, chairman of the CCR regional cabinet and leader of Rhondda Cynon Taf County Borough Council, said: "The REGP board will play an extremely important role in shaping the City Deal.
Where the dependent variable, yi is standard deviation of relative prices ( r ij ) for each of 595 pairs representing short-run relative price behaviour; Beta 0 is intercept; RDi is a vector of provincial dummies in the set (REG, REGP
, REGB, REGS, REGKP, P, B, S, KP); Beta 1 is the corresponding vector of coefficients and (Epsilon)i is the error term for i = 1, 2, 3, a[euro]|a[euro]| 595.
Andrew Morgan, chairman of the CCR Regional Cabinet and leader of Rhondda Cynon Taf County Borough Council, said: "Establishing the REGP is a key commitment in our City Deal heads of terms.
"It goes without saying that whoever takes on this role will need to be politically astute and understand the context of the REGP, be experienced at dealing with numerous stakeholders and have an extensive network, across sectors at senior leadership level.
Huw Thomas, the CCR's portfolio coleader on economic development and leader of Cardiff council, said: "The chair of the REGP will play a key role in making sure our Cardiff Capital Region Cabinet is making the right decisions.
The REGP, which is currently being established, will directly advise the Cardiff Capital Region's (CCR) regional cabinet - made up of its 10 local authority leaders - and be responsible for reviewing the regional economic strategy underpinning the City Deal.
While the REGP will be able to question and challenge proposed projects, drawing on their collective expertise, they will not have a veto position.
His first mission will be to work with the CCR regional cabinet to appoint the REGP board members.