Northern Ireland’s Rising Innovation & Economic Success: A Look at 25 Years Since the Belfast Agreement
In recent months, Northern Ireland has been commemorating the 25th anniversary of the Belfast Agreement, also known as the Good Friday Agreement. This historic accord has played a crucial role in shaping a more peaceful and prosperous society in Northern Ireland. Over the past 25 years, the region has made significant progress, thanks to the support and ingenuity of businesses of all sizes. These companies have recognized the potential of investing in Northern Ireland’s promise of a peaceful future.
Investors continue to choose Northern Ireland within the United Kingdom because it offers a winning combination of exceptional talent, unique opportunities, a tradition of creativity, and a thriving spirit of private sector entrepreneurship. Today, Northern Ireland is emerging as a world leader in key growth sectors such as artificial intelligence, creative and digital industries, cyber-security, energy (including renewables), life and health sciences, and tourism.
As we look ahead to the next 25 years, Northern Ireland is venturing into industries with tremendous growth potential, notably cyber-security. With over 2,700 cyber professionals working in more than 120 companies, Northern Ireland’s expertise in this field is expanding rapidly. Additionally, the creative industries have already made a substantial contribution of £1.3 billion to the local economy, positioning Northern Ireland as a leader in this sector.
The UK Government is actively supporting the growth of innovative businesses in Northern Ireland. Through investments like the £11 million allocated to boost the cyber-security industry under the New Deal for Northern Ireland, the government aims to foster an environment where these businesses can thrive. The Northern Ireland economy has shown promising signs, and according to the figures released by NISRA in June, it has emerged from a technical recession.
The upcoming Northern Ireland Investment Summit, taking place in Belfast on September 12-13, will further underscore the UK Government’s commitment to the region’s prosperity. In collaboration with Invest NI, the summit aims to gather an extensive group of international investors and businesses, showcasing why Northern Ireland is an exceptional place to live, work, and do business. It presents a golden opportunity to connect global companies with the best investment prospects in Northern Ireland.
The world is beginning to take notice of Northern Ireland’s innovation and technological capabilities. This recognition has created new trade opportunities for Northern Irish companies to engage with international businesses and suppliers. The UK Government has actively sought to facilitate this through investments, including the £8 million investment in Invest NI’s new offices in Seoul, South Korea. This commitment is backed by the extensive diplomatic network of the whole UK.
While there is much to be optimistic about, it is important to address various challenges like productivity, fiscal stability, and public service reform. The responsibility for tackling these issues lies with local leaders who represent the interests of the people who elected them.
In addressing the challenges faced by employers in filling vacancies, the UK Government has allocated £15 million from the New Deal for Skill Up. This initiative aims to provide more than 20,000 training places, ensuring that businesses can access the skills they need to thrive.
The Windsor Framework, established earlier this year in agreement with the EU, signifies a new era of partnership for the UK and EU. It provides a stable framework for the future and guarantees a seamless flow of trade from Great Britain to Northern Ireland through a new green lane. The Windsor Framework is a significant step forward in the post-Brexit relationship and acknowledges the issues created by the Protocol, emphasizing the need for change.
Furthermore, the Windsor Framework creates opportunities for Northern Ireland to leverage the unique benefits of being part of the United Kingdom, including access to new trade agreements negotiated by the UK and compliance with the UK’s trade regime for services, while still maintaining access to the EU single market for goods.
As Secretary of State, I emphasize that the Windsor Framework represents substantial progress, and we are currently working with the main parties to establish the basis for their return to the Executive. This is crucial to ensure that the Stormont Assembly and Executive can address the priorities of the people of Northern Ireland, with the support of the UK Government.
It is all too common in politics to focus on divisive issues. However, my focus remains on working in partnership with local parties to deliver on the common interests of the people of Northern Ireland, including locally-elected political decision-making, prosperity, progress, and peace.
Northern Ireland has come a long way in the past 25 years, and its success story is recognized and admired both within the United Kingdom and internationally. With continued support, investment, and collaboration, Northern Ireland’s innovative businesses can thrive, driving the region’s future growth and prosperity.
