Oireachtas Joint and Select Committees

Thursday, 9 February 2023

Joint Oireachtas Committee on the Implementation of the Good Friday Agreement

The Economic and Social Benefits of the Belfast-Good Friday Agreement: IBEC

Mr. Fergal O'Brien:

I will kick off with a few observations, after which colleagues might like to contribute.

The potential of the Dublin-Belfast economic corridor has long been recognised. I hope it will start to see momentum. Previously, FDI companies that were looking at locations for investment on the island would come to us or IDA Ireland and say that they wanted people with certain skills within a 30-minute or 60-minute commute. That was the lens through which they picked locations. It does not apply anymore, though. We can stretch the catchment area out much farther now. The skills offering will be crucial to the Dublin-Belfast economic corridor. It does not just offer the island's two largest cities, but also its two closest cities. It is often forgotten that Belfast is the closest city to Dublin. They can be the economic powerhouse. The corridor's promotion will be on the basis of talent and skills, though. It is not the case that corporates will not dictate that I am going to be in a certain geography because of Government supports or incentives and we will then try to build talent there. They will go to where the skills offering and talent are. If I were to identify an area in which we could get the full potential out of the Dublin-Belfast economic corridor, it would be skills, research and education ecosystem, developing that brand and strength in collaboration, and the combined offering. Something that we do not see enough of on the island is a combined offering to investors.

The Senator asked what we could do to highlight the potential opportunities for greater co-operation, be it on energy or climate, on an all-island basis. IBEC has been engaging with our counterparts in Northern Ireland, the CBI, for approximately five decades. We run an annual all-island economic conference. There is more that we could do with the business communities across the island on a joined-up basis to point out the areas of particular importance and priority and to engage with the political systems, North and South, on ensuring those priorities are fully understood. We will continue to endeavour to do so. IBEC is engaged as an organisation and some of our trade associations are now all-island in their structures and memberships, but co-operation with the business community through CBI in Northern Ireland at that conference is important for highlighting issues.

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