NI Economic Recovery Action Plan launched today

  • Economy Minister Diane Dodds launched Northern Ireland's Economic Recovery Plan today, which sets out a road map to rebuilding the economy from the impact of the pandemic.

    She said the recovery will be driven by innovation, investment and a skilled workforce: “As we move slowly back to normality, we must put all our efforts into restarting, repairing and rebuilding our economy. We must encourage businesses to innovate and lead and we must support workers to prepare for new opportunities.

    “My Economic Recovery Action Plan is the blueprint to rebuild a stronger economy in Northern Ireland. We will focus on where we have the greatest opportunity to drive innovation and develop the skills and capability of our workforce to secure better jobs.”

    The report identifies supporting a highly-skilled workforce, stimulating research and development, building a greener economy and promoting investment, trade and exports as the drivers to recovery.

    RELATED: NI Economy Minister extends free access to SME skills programme

    It also identifies a number of actions the Department plans to take to stimulate growth. These include:

    the development of a flexible skills fund;
    widening access to apprenticeships by removing the age cap;
    developing proposals to implement a Northern Ireland artificial intelligence centre of excellence;
    delivering the High Street Stimulus Scheme;
    delivering a Tourism Voucher Scheme to stimulate demand;
    accelerating delivery of City and Growth Deals; and
    developing a green innovation challenge fund.

    The Minister continued: “Throughout this pandemic I have done, and will continue to do, everything in my power to protect jobs and livelihoods.

    “The discovery of a vaccine is a game-changer, however, allowing us to look beyond the current restrictions and plan for recovery. The Recovery Action Plan sets out a suite of decisive actions that will further the rebuilding agenda.

    “Going forward our message must be clear – Northern Ireland is once again open for business, open for investment and open for visitors.”

    RELATED: 'Innovation is vital for NI's recovery'

    The Economic Recovery Action Plan has been welcomed by leaders from the business, tourism and hospitality, and skills sectors, including the Confederation of British Industry (CBI) Northern Ireland, the NI Tourism Alliance (NITA), Invest NI and Tourism NI.

    Kevin Holland, Chief Executive of Invest Northern Ireland, said the economic growth agency is "currently building detailed delivery plans under eight economic drivers aligned to the Department for the Economy’s plan. These plans can impact quickly, generate public economic success and build for the future.”

    John McGrillen, CEO of Tourism NI added that "the recovery plan includes the development of a sustainable, regenerative Tourism Strategy focusing on economic growth, social wellbeing and the protection of the environment.

    "The plan will also allow us to develop and deliver industry-wide training to the tourism sector, as well as campaigns and additional funding to provide the skills and capabilities to improve and grow product offerings and business models," he concluded. 

    RELATED: Belfast set for resilient economic post-Covid recovery, says PwC

    About the author

    Niamh is a Sync NI writer with a previous background of working in FinTech and financial crime. She has a special interest in sports and emerging technologies. To connect with Niamh, feel free to send her an email or connect on Twitter.

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