4 minute read
Creating a Thriving Economy
New Economy Minister Diane Dodds writes for Ambition.
My key priority is to make the Northern Ireland economy competitive across the globe by promoting innovation, attracting foreign investment and creating jobs.
Since taking up my post as Economy Minister, I have had an opportunity to engage with a wide range of businesses across Northern Ireland. I have seen how forward looking our local businesses are and have been really impressed with the level of innovation, ambition and talent that we have here.
Protecting Northern Ireland’s place in the UK internal market and helping businesses prepare for our future trading relationships will be vital. As well as protecting our valuable cross-border trade, I will be working to maintain our critical trade relationship with the rest of the UK. In 2017, NI sales to GB were valued at £11.3bn and purchases were valued at £13.3bn. Just under 23,000 Northern Ireland businesses traded with GB in 2017.
The UK government pledged in the New Decade, New Approach agreement that it will legislate to guarantee unfettered access for Northern Ireland’s businesses to the whole of the UK internal market. It must deliver on this promise.
I will also ensure we continue to build and maintain international relationships and collaborations post-Brexit in order to help Northern Ireland be competitive globally. I will be pressing both the UK Government and the European Commission to ensure that implementation of the Protocol works for Northern Ireland businesses.
An additional 15,540 employee jobs were created over the year to September 2019, with the services sector accounting for the majority (78%) of jobs growth. Employment does not just contribute to wealth and value added in the economy as a whole. It also boosts individuals and communities by increasing levels of health, confidence, selfrespect and social inclusion.
I am committed to developing a new Economic Strategy that sets out the Executive’s economic priorities and supports the Programme for Government. It needs to be forward looking and build on our core strengths in areas such as artificial intelligence and cyber security.
I am also focused on skills and education to ensure that our young people are prepared for working life. I am very proud of the range of options we have on offer for school leavers including university and further education courses, apprenticeships and assured skills academies. So far this financial year, our Assured Skills Academies in the financial services, IT, welding and tourism sectors have up-skilled 227 people with 190 securing employment (84%).
A culture of lifelong learning is essential so that the workforce is prepared for changing roles and careers.
Over the last year, my department has been working with colleagues in other departments, education institutions and
key stakeholder groups from industry to begin development of the new Skills Strategy. It will cover all life stages and all levels of learning and recognise the diverse needs we have in society here. It is critical that we work directly with representatives of business and education on this issue.
Tourism is a vitally important sector to the Northern Ireland economy and helps to drive economic growth and support jobs. In the last 10 years, overall visitor numbers have grown by 85% to five million, overall visitor revenue has doubled with spend in 2018 reaching £968m, and the Tourism Sector in NI now supports in the region of 65,000 jobs. I am working on a draft Tourism Strategy which will contain targets to double the value of tourism to the NI economy to £2 billion per annum and create 25,000 new jobs by 2030.
Climate change issues are high on everyone’s agenda. I recognise our responsibilities to contribute to the reductions required by the Paris Agreement and my department is committed to achieving the UK Government’s legislated target of net-zero carbon by 2050.
In the 12 months to September 2019, 44.9% of electricity consumed in Northern Ireland was generated from renewable sources. This means we are already exceeding a target to achieve 40% of electricity consumption from renewable sources by 2020.
There are many challenges to address but I am enthusiastic about my department’s plans to create a thriving, confident and strong economy in Northern Ireland. I look forward to working with businesses and Northern Ireland Chamber of Commerce and Industry members to achieve my goals.
where BUSINESS
AND wellbeing meet
