Sinn Féin - On Your Side

Invest NI Review welcomed but it must address fundamental failures

1 December, 2008 - by Jennifer McCann

Sinn Féin MLA and Deputy Chair of the Assembly Committee for Enterprise, Trade & Investment Jennifer McCann has welcomed ETI Minister Arlene Foster's announcement of an Independent review of economic development Policy of both DETI and Invest NI.

Ms McCann said:

"I welcome the statement from Arlene Foster that she has launched an Independent Review into Invest NI.

"Sinn Féin have repeatedly challenged the current policy of Invest NI and whether the organisation offers value for money. Invest NI doesn't deliver economic investment in areas of deprivation and need, and regional disparities in terms of investment are not dealt within its current policy.

"While Foreign Direct Investment is important to the economy, the current economic climate presents a real need to steady and develop local indigenous businesses.

"A huge amount of public money has been pumped into the banks and financial institutions and yet many of them are refusing to cut interest rates and stop calling in credit from businesses who are finding themselves in difficulty. This means businesses are being forced to close and go into receivership and more people becoming unemployed as a consequence.

"We would ask for this review to be thorough and transparent and make the recommendations needed to ensure that investment is developed on a basis of equality for all." ENDS

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