FSB head says ​opportunities can open up at the first-ever NI summit

​Investors will be travelling here from around the globe to meet business leaders, educators, and elected representatives as the starting point of seeing what’s on offer - building relationships and working together to mutual benefit.

A line-up of senior figures have committed to attend, including the Business and Trade Secretary, the Levelling Up Secretary, the US Special Envoy to Northern Ireland, and the NI Secretary; all here to contribute knowledge, connections and resource to highlight our own inherent strengths and opportunities and help expand our economy.

The title ‘Investment Summit’ is interesting.

Borrowed from the Latin ‘investio’ meaning ‘to clothe’, investment has come to mean so much more; the spending of money with the expectation of adding value and getting a return greater than the sum committed, usually over a longer timeframe; while a ‘Summit’ is typically an international meeting, usually with considerable media exposure, tight security, and a prearranged agenda.

It is a good name for what promises to be a great occasion next month!

The focus of the event may, for logistical reasons be largely in and around Belfast but, as a city built on the Foyle, few in Derry/Londonderry can be unaware that a rising tide lifts all boats.

There is a close parallel with a rising tide of investment funds benefiting businesses and communities right across Northern Ireland.

In economic terms, greater wealth flowing in has the potential to build infrastructure, enhance knowledge and skills, and create employment, so it must be harnessed to give maximum benefit.

Having a leading University at its heart, along with outstanding digital connectivity, puts Derry/Londonderry in pole position to forge new relationships and win a share of the benefits of fresh investment.

The recent financial commitment by the Dublin government to the Magee Campus shows that the proposition is strong and that our local leaders can articulate the opportunity and land the cash.

With the Investment Summit’s focus including health and life sciences, and technologies, Derry/Londonderry has much to bring to the table. A port city, with an airport that’s connected to Heathrow, a university and hospital, great people, and much more besides, the Investment Summit should provide the perfect context for sharing awareness of these assets and allow the city to explore and build its own relationships.

The Summit’s origins are interesting. Last year, the UK Chancellor of the Exchequer made financial provision for it in the budget.

Earlier this year, the Prime Minister doubled down on his commitment to “make Northern Ireland the most exciting economic zone on the planet” and announced further plans for the event.

Now, senior Ministers and the US Special Envoy are making the journey to come and play their part.

And they have been busy – using their global networks to identify potential investors and invite them to attend; mapping out business sectors that could benefit, and laying the ‘match-making’ groundwork that should allow quality relationships to be fostered that will deliver subsequent benefits to all.

Of course, we still need to thrash out the final details around the operationalisation of the Windsor Framework so that our offering to incoming manufacturers and distributors is clear. And it would be much better to have a sitting Assembly and Executive than not.

But business is undaunted and will maximise this most extraordinary of opportunities to create value and benefit for all.

More than that, there is an appetite to use this Investment Summit as a foundation stone for an ongoing series of investment events, covering defined industry sectors and targeting specific geographic partners.

Irrespective of political outlook or affiliation, every community needs business to prosper so it can create the jobs on which we all rely – not only for our personal benefit, but also for the contribution a thriving economy can make to the funding of public services.

This Investment Summit is an exciting first step in the next phase of transforming the Northern Ireland economy in a way that can and will benefit everyone.

We should embrace it and champion it, ensuring our visitors receive the warmest of welcomes as we strive to make it a real success.