Foyle Port bosses say ‘political vacuum’ has set North apart from GB citing ‘desperate need’ for stimulus

The harbour boss has also suggested the delivery of Free Port or Innovation Zone status could be a ‘game-changing’ for the Lisahally facility.

Mr. McGrath made the observations in a statement in Foyle Port’s newly-published annual report for 2022/23.

"The economic outlook in Northern Ireland, and in the Foyle area of Derry/Londonderry in particular, is in desperate need of Government policy stimulus to boost economic growth.

“The political vacuum here has set NI apart from GB, where ports have been rightly recognised as economic enablers, and Free Ports having been designated in England, Scotland, and Wales.

“This approach would be a game-changer for Foyle Port given our peripheral border location where we face increased disadvantage during protracted periods of wider economic stagnation.

“We remain hopeful that we may yet benefit from the stimulus of Free Port status, or an Investment Zone designation in due course.

“We also believe that the time is right for the modernisation of port legislation to provide greater commercial flexibility,” he stated.

Foyle Port Chair Bonnie Anley echoed Mr. McGrath in her own introductory statement to the harbour’s annual report.

She said: “Foyle Port is the Atlantic Gateway for the Northwest city region for UK, European and international markets.

"We recognise the efforts that have been made to improve the operations of the Northern Ireland protocol and we look forward to new opportunities from open market access and much-needed certainty for business.

“We remain keen to progress the Northern Ireland Freeport opportunity and continue to work with local partners to ensure this important economic stimulus is realised. The Northwest region is widely known as an area of industrial deficit.

“As a platform for economic growth, we will continue to engage with political stakeholders to help attract vital business investment for the benefit of the whole region.”

Ms. Anley hailed the long-awaited delivery of the A6 upgrade, which opened to traffic from April 2023. She said it would significantly benefit the port.

"This is a crucial infrastructure link for the Northwest and will bring more investment and visitors to our region as well as securing reliable connectivity across the island.

“We look forward to the completion of the A5 upgrade which will further enhance the Port’s regional connectivity,” stated the Port Chair.

Ms. Anley indicated the Port and Harbour Commissioners will be developing a new five-year strategic plan with a particular focus on climate change.

“The Port Masterplan, Foyle Port 2.0 was developed in 2019 with the key strategic themes of port development, investment, energy, and tourism. In 2021, the Commissioners implemented a strategy bridging period to ensure organisational agility and flexibility as we navigated the multiple impacts of the pandemic and more recently the severe economic instability.

"During the financial year 2023/24, the Organisation will develop a new 5-year Strategic Plan with a focus on the climate change emergency and transition to decarbonisation,” she said.

Buoyant Foyle Port: 22% hike in profits to £1.85m, turnover up 17% to £10.8m and trade rises 11% to 1.93m tonnes