Draft Industrial Strategy sets out ambitious plan to transform Northern Ireland

Economy Minister Simon Hamilton MLA has published a draft Industrial Strategy for Northern Ireland.

Economy 2030 is an ambitious, long term vision to transform Northern Ireland into a globally competitive economy that works for everyone.

Speaking as the consultation period begins, Simon Hamilton set out the context. He said, “Northern Ireland has emerged from the deepest downturn in living memory and we have begun the process of rebalancing our economy.

“Unemployment has fallen, economic inactivity is down, exports are growing, tourism visitor numbers and spending are on the increase and innovation is rising. But we should not simply settle for better than it was. It is a truly transformed economy that we must set our sights upon.”

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Explaining his ambitions for the Northern Ireland economy, the Minister said, “This Strategy sets out a plan to turn Northern Ireland into one of the world’s most innovative and competitive small advanced economies.

“Our ambition to build a globally competitive will be based around the following five priority pillars for growth: Accelerating Innovation and Research; Enhancing Education, Skills and Employability; Driving Inclusive, Sustainable Growth; Succeeding in Global Markets; and Building the Best Economic Infrastructure.

“We will offer enhanced investment and support to those market opportunities that are most likely to lead to strong and sustained economic growth. Every sector is vital to our economy and will be assisted but support will be strongest for those sectors and sub-sectors where we are already world class and where we can become world class.

“And of utmost importance we will strive, at all times, to ensure that everyone, everywhere in Northern Ireland feels the benefits of an improving economy with more jobs and rising incomes.”

The Minister added, “I firmly believe in the potential for Northern Ireland to once again become an economic powerhouse. I would encourage all interested parties to have your say on creating a globally competitive economy. I encourage as many of you as possible to make your views known on this hugely important subject.”

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