Written Answers to Questions - Northern Ireland Assembly

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Friday 20 July 2012 Written Answers Northern Ireland is a relatively small place and evidence indicates that many investments draw their workforce from areas beyond constituency area boundaries. Commercial Liability Insurance Provided by Tamboran Mr Agnew asked the Minister of Enterprise, Trade and Investment whether she will publish details of the commercial liability insurance provided to her Department by Tamboran, including the eventualities for which it provides cover. (AQW 13397/11-15) Mrs Foster: I would refer the member to the answer I gave to AQW 12271. The terms of any insurance policy between an insurance company and the organisation which is being insured is a private and commercial matter and therefore it would not be appropriate for the Department to publish details of same. Disposal of Capital Assets Mr Weir asked the Minister of Enterprise, Trade and Investment to detail the capital assets of which her Department intends to dispose in each of the next three years. (AQW 13438/11-15) Mrs Foster: My department, through Invest NI, holds capital assets in the form of land and property, which is held for sale or lease to support economic development. The following sales targets have been set for the next three years: ■ 20 acres in 2012/13 ■ 20 acres in 2013/14 ■ 30 acres in 2014/15 London Inter-Bank Offered Rate Dr McDonnell asked the Minister of Enterprise, Trade and Investment what aspects of industrial and employment policies are linked to, or influenced by, the London Inter-bank Offered Rate. (AQW 13444/11-15) Mrs Foster: Access to Finance remains a key challenge for many businesses throughout Northern Ireland, an issue that has been highlighted in the Executive’s Economic Strategy. The London Inter-bank Offered Rate is a key determinant which impacts on interest rates set by banks. While this does not impact directly on economic policies set by my Department, I recognise that it does potentially impact on the ability for businesses to get access to affordable credit from banks and so it is imperative that there is complete transparency in how these rates are set. George Best Belfast City Airport Mr Weir asked the Minister of Enterprise, Trade and Investment what initiatives and support her Department has provided to George Best Belfast City Airport to attract new airlines. (AQW 13463/11-15) Mrs Foster: Tourism Ireland works with airports, airlines, ferry operators and other tourism interests to drive demand for services from key markets to Northern Ireland and to help maintain our vital network of routes. Tourism Ireland is currently working with George Best Belfast City Airport (GBBCA) on the introduction of potential new airlines and routes. However, discussions with the airport, and with airlines, are of a commercial and confidential nature. The commencement of the new British Airways GBBCA to Heathrow service on 2 July 2012 is very good news for the airport and for Northern Ireland. As part of its ongoing co-operation with key carriers and WA 492
Friday 20 July 2012 Written Answers airports, Tourism Ireland will undertake advertising and other promotions in Great Britain together with British Airways, to maximise the demand for this route thereby boosting tourism to Northern Ireland. Performance of InvestNI Mr Gardiner asked the Minister of Enterprise, Trade and Investment what monitoring arrangements are in place to assess the performance of InvestNI and; to what extent this involves practitioners of private enterprise companies not dependent on public sector or government work. (AQW 13486/11-15) Mrs Foster: I and my Senior Officials meet the Chairman and the CEO of Invest NI on a regular basis to review and monitor the performance of the agency. These meetings consider progress against the challenging targets that have been set for the organisation within the Programme for Government (PFG), Northern Ireland Economic Strategy and within the Corporate Plans of DETI and Invest NI. Furthermore, the Executive Sub Committee on the Economy, which I chair, will play an important role in vigorously monitoring the key Invest NI targets as part of the PFG monitoring process. Invest NI’s Chief Executive also attends the Enterprise,Trade and Investment Committee twice a year to provide the Committee with a half year and year end summary of performance against targets. Recently a Steering Group led by my Department comprising Departmental, Invest NI and DFP staff was convened and agreed Terms of Reference for a project to assess and enable the Department to report on Invest NI performance going forward. A report is expected from the Steering Group in the next few months which will be validated by a leading independent academic on economic performance. InvestNI Mr Eastwood asked the Minister of Enterprise, Trade and Investment whether InvestNI encourages international investors to locate to District Council areas with the highest unemployment rates, and if not to explain the reasons. (AQW 13493/11-15) Mrs Foster: Invest NI encourages international investors to locate in any area in which their business will grow and thrive. As noted by the Independent Review of Economic Policy, it is important to allow companies the scope to locate where they can operate most profitably. To do otherwise would be detrimental to the chances of securing Foreign Direct Investment (FDI) for Northern Ireland. Invest NI works with potential investors to develop visit programmes that demonstrate Northern Ireland’s capability to meet the requirements of the specific investment project. These requirements are based on a number of factors, such as availability of a skilled workforce, the presence of existing sectoral clusters, availability of suitable property and other infrastructure related issues. While Invest NI does offer guidance, the imperative of any visit programme is to demonstrate how locating in Northern Ireland will help the company to grow its business. In a very competitive market place Invest NI is responsible for selling Northern Ireland at a regional level. FDI plays a large part in the economic growth of Northern Ireland and Invest NI has a very successful track record of attracting high quality investment which will benefit the whole of the region. My Department, including Invest NI, is aware of the challenges facing local areas in Northern Ireland and we are working closely with councils and other local stakeholders to develop their proposition to maximise opportunities for economic growth for all areas. InvestNI Mr Eastwood asked the Minister of Enterprise, Trade and Investment what processes exist within InvestNI to ensure that all Departments are fully aware of any specified weaknesses highlighted by potential investors. (AQW 13496/11-15) WA 493
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RWA 4
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Written Answers to Questions - Northern Ireland Assembly

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