AQO 56/22-27

Mr David Honeyford
Alliance Party
Lagan Valley

Tabled Date: 15/02/2024
Answered On Date: 26/02/2024
Priority Written: No

Question:
To ask the Minister for the Economy to outline what immediate steps he intends to take to reform Invest NI.

Answer:

Invest NI has a critical role to play in delivering my Economic Mission. As the Independent Review of Invest NI made clear, the organisation must restructure and refocus if it is to be effective in the time ahead.

I have engaged with Invest NI’s new CEO to discuss my objectives and the agency’s role in achieving them. Key elements of this reform will include greater conditionality and incentives; a regional structure dedicated to indigenous SMEs and start-ups; and development of industries as well as individual firms.

In tandem, my officials will continue to implement the Action Plan, co-designed in response to the Review, to enable it to deliver my priorities of improved regional balance and productivity performance, high quality employment and decarbonisation.