‘Damning’ report shows need for ‘profound change’ at Invest NI which has ‘failed’ Derry

They have said the Department of the Economy needs to act on the report’s recommendation that the ‘agency needs to be a better partner, particularly in the sub-regional context’.

The authors of the report called for more ‘effective engagement and cooperation, perhaps founded on a stronger acknowledgement for Invest NI to be sensitive to and understand the different needs and opportunities of the various sub-regions’.

SDLP Jobs and Economy spokesperson Sinéad McLaughlin welcomed the release of the Independent Review’s report into Invest NI, which found that ‘profound change’ is required.

“This report is unequivocal in its damning assessment that profound change is needed at Invest NI and makes a number of stark recommendations given the scale of its failings.

"I have been consistently raising the issues surrounding Invest NI since becoming an MLA and was pleased to help secure this external review into its performance and to submit a response to it earlier this year.

“I welcome the long-overdue findings that Invest NI is in need of substantial transformation. Despite spending hundreds of millions of pounds, it is clear that there has been an abject failure at the heart of Invest NI to deliver, especially on a sub-regional basis and the areas in the North that are most in need have not received anywhere near the requisite level of support,” said Mrs. McLaughlin.

Sinn Féin MLA Ciara Ferguson said the Invest NI review report confirms the need for fundamental change within the organisation.

She said: "Invest NI has failed over many years to effectively create jobs, boost productivity and investment outside Belfast. During the pandemic it was found wanting in providing practical support to businesses.

"It is clear there is a need for fresh political leadership within the Department for the Economy to reform Invest NI and create a productive, sustainable, regionally balanced economy with good jobs.

"The local economic development agency needs to work to support indigenous businesses including local start-ups, small and micro-businesses, and entrepreneurs, alongside attracting inward investment on a more strategic basis."

Gordon Lyons tells Sinéad McLaughlin to 'talk up' Derry as she questions FDI disparity