Addressing a cross section of the business community at a Londonderry Chamber of Commerce business lunch, Nigel Dodds highlighted that the current difficult economic climate has made the Executive even more determined to ensure that targeted policies are in place to address the wide variety of issues facing the local economy.
The Minister stressed the Executive’s commitment to prioritising economic development: “We have made growing a dynamic and innovative economy the top priority over the lifetime of the Programme for Government. By focusing on the four key drivers of productivity - skills, infrastructure, innovation and enterprise - productivity growth will drive our economic development.”
Mr Dodds highlighted the importance of targeting policy interventions in the North West and emphasised the Executive’s commitment in the region: “The North West Gateway Initiative encourages economic growth in the area and provides a focus for greater synergy and sustained co-operation in the region.
“We also now have the Ilex Urban Regeneration Company to stimulate economic and social regeneration in the council area. Ilex draws together varied resources and expertise from both the public and private sectors and leads in building an agreed way forward for the economic, social and physical development of the North West area.”
The Minister also emphasised that Londonderry has a particular advantage, which can realise significant benefits for the region.
He said: “The North West can exploit its geographical advantage – maximising economic opportunities on both sides of the border and leading to tangible benefits for Londonderry and the wider area.”
The Minister highlighted recent job investment announcements as evidence of the strength of the region. He stated: “These types of investments clearly show that the North West is open for business, it has the skills to attract these firms, it is competitive and able to attract major investment from the knowledge based sector.”
Mr Dodds concluded by assuring the audience of his determination to prioritise economic transformation and encouraging business leaders to continue to work in making North West businesses more productive. He said: “Your continued work in making North West businesses more productive and outward-looking will go a long way towards enhancing Northern Ireland’s economic prospects.”
Notes to Editors:
- The Finance Minister was speaking at a Londonderry Chamber of Commerce business lunch event at the Ramada Da Vinci’s Hotel.
- The Londonderry Chamber of Commerce operates to promote the creation of a world-class physical, economic, and social infrastructure appropriate to the City's role as the regional capital of the North West. The Chamber is currently working towards improving education and training, inward investment, transport and roads, environment, and other aspects of the economic and social structure of the region.
- A copy of the speech can be found on the DFP website.
- Media enquiries only to DFP Press Office on 028 9052 7644 or 028 9052 7375. Out of office hours please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.
