THE interim chair of Invest NI has said it’s open secret in the north’s political and business circles that Sinn Féin will take the economy ministry, if and when the executive is restored.
Colm McKenna said the Department for the Economy’s (DfE) ten-year economic strategic, known as 10x, has political support across the board, despite its light-touch approach to the north’s dual market access under the Windsor Framework.
The strategy was originally developed and published in 2021 under the former DUP economy minister Diane Dodds.
The DUP’s opposition to the protocol and now the Windsor Framework appeared to leave Invest NI and DfE officials in a difficult position when it came to talking up the opportunities of dual market access.
Sinn Féin on the other hand appear keen to put those opportunities front and centre of its economic approach.
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Writing in The Irish News last month, Conor Murphy said: “The executive must be restored immediately so we can start to use the protocol to deliver prosperity for all our people.”
But Colm McKenna said he doesn’t believe a future Sinn Féin economy minister would tear up the 10x document.
“The 10x strategy was not formally signed off by the executive, but it had already been agreed by all of the political parties,” he said.
“We have met all of the political parties and it is a bit of an open secret that Sinn Féin should have first pick and will pick economy.
“We have met Conor Murphy on a number of occasions along with Caoimhe Archibald.
“They are bought into 10x, the DUP are bought into 10x, Ulster Unionists, SDLP and Alliance, they all bought into 10x. It’s the only show in town.”
The interim Invest NI chair said in the absence of the executive, Invest NI have been “very vocal” about the Windsor Framework.
“It’s absolutely huge and unique competitive advantage that we have in Northern Ireland, that nobody else has.”
Mr McKenna said he was present at a recent InterTradeIreland conference, where he said Irish economist David McWilliams told delegates that manufacturers in the Republic should give serious consideration to relocating their business north of the border.
“I actually put that to the Tánaiste [Micheál Martin] in a conversation at the Investment Summit, and he didn’t disagree.
“It’s a huge competitive advantage for Northern Ireland and it would be remiss for Invest NI not to push that as a competitive advantage."
But while he believes “it’s a huge opportunity”, he said it shouldn’t drive economic policy in the north.
Meanwhile, Invest NI is set to 'beef up' its regional offices in response to criticism in Sir Michael Lyons' review over its effectiveness outside Belfast.
“We have been very sensitive to that, you couldn’t not be, it was writ large in the Lyons’ review,” said the chairman.
“We need to do more in the regions, we’re absolutely committed to doing that.”
