Minister's speech - Newry, Mourne & Down District Council Investment Conference - 31 March 2025

Note: This publication may not reflect verbatim delivery by Minister Archibald

Hello everyone, I’m delighted to be starting my week on such a positive note.

Today’s announcement of investment in Grade A offices and tourism accommodation will further add to the growing value proposition in Newry, Mourne and Down.

Strategically located between Belfast and Dublin, this area has incredible access to the workers, the colleges and universities, the ports and the airports right along this economic corridor.

This makes all-Ireland collaboration critical to the area’s economic development and it’s great to see that the CEO of Louth Council is taking part in one of today’s panel discussions.

Its location also means that Newry, Mourne and Down is well placed to take advantage of dual market access.

This area is home to some major exporters and it is notable that while exports in the north are growing, they are falling in Britain.

This region is of course renowned for its tourism offering, and we’re in the shadow of one of its most beautiful natural assets this morning.

International tour operators consistently tell us that they need more accommodation, so the investment announced today for new hotels undoubtedly meets a very real demand for more visitors to come here.

This area has many opportunities to discuss this morning, but I would suggest that its greatest strength is its culture of entrepreneurship.

Most of the successful local businesses are home-grown, including MJM Marine (who I met with in my first week in office), First Derivatives, Glen Dimplex, StatSports, EOS IT Systems, and Finnebrogue.

In the past, that self-reliance was very much borne out of necessity.

My job as Economy Minister is to ensure that going forward, government actively supports this community’s resourcefulness, creativity and enterprise.

That is why Invest NI has adopted a target to make 65% of its investments outside of the Greater Belfast area, and is strengthening its support for regional development.

That is also why we are establishing Local Economic Partnerships.

The Newry, Mourne and Down Partnership was the first to be established, and I look forward to working with it to ensure everyone is pulling together in the same direction, delivering on local economic priorities, and removing any barriers placed in your way.

While I will do everything within my power to help, I recognise that some of those barriers are not within our control.

The British Government’s approach to taxation and spending, and its introduction of the ETA is hugely challenging.

The US administration initiating a trade war is also very concerning.

But in terms of what we can control locally, I’m confident we are on the right track, and we can look forward with optimism.

So thank you to Pete for inviting me to be with you today.

I hope you are reassured that while I am not from this particular part of the world, my predecessor’s commitment to regional balance and to collaboration with local areas, remains my commitment.

Indeed I worked very closely with Conor to develop our policy agenda for the Department.

I also continue to benefit from the guidance of Conor Patterson, who is my Department’s advisor on regional balance.

I have to go to Stormont now as it is a sitting day but it was wonderful to be here with you this morning and I hope you have a very successful event.

Thank you.