Twin-track plan to boost economy unveiled

East Derry's economy needs a "twin-track" approach to see it "recover and develop effectively throughout this decade", according to the constituency's Ulster Unionist Association Chairman, Robert Carmichael.

Mr Carmichael emphasised the "absolute necessity" for the Assembly to "work as soon as possible on a twin-track plan to ensure the continued development of the local economy in the constituency".

He added: “East Londonderry’s economy, like the rest of the Province, needs a twin-track approach to see it develop effectively throughout this decade. Clearly, one of the major benefits of long-term and lasting peace in a democratic Northern Ireland will be the chance to develop and advance our local economy.

“But at this point in time, and especially with all the new nations which have joined and are joining the European Union, the Northern Ireland economy is not financially strong enough to survive on international investment alone, or our own local industry alone. 

“It requires a partnership between the local companies and the overseas firms; both working together for the benefit of East Londonderry, and ultimately our Province. 

“It is, therefore, an absolute necessity our Stormont Executive is restored and gets working as soon as possible to ensure that this partnership, or twin-track approach, works effectively and efficiently. 

“East Londonderry-based companies as well as many other smaller companies must be highly praised for their input into the constituency’s economy over the decades.”

Mr Carmichael added East Derry was a "shining example where international companies had benefited from the effectiveness of using an Ulster-based workforce". 

He said: "This is one of the best attributes which East Londonderry can offer any overseas firm interested in investing in our Province; namely, a skilled workforce with a positive work ethic.

“Likewise, in such a partnership between local firms and overseas contacts, our homegrown Northern Ireland-based companies stand to reap tremendous benefits and rewards from having links with the rest of the United Kingdom, Europe and further afield. 

“And it is not just international and regional firms which will benefit from an Assembly getting to work on our twin-track plan as soon as possible. A fully operational Stormont Parliament can once again become a major backbone for the development of local businesses, family firms and traders within the East Londonderry constituency itself.” 

The UUP Chairman also called on the Government to provide more cash aid for job creation to assist with the building of small businesses in the constituency.

“Economically, large oak trees grow out of small acorns and we must ensure our local constituency businesses have a viable infrastructure which enables them to link into every available opportunity in markets in the United Kingdom, the South of Ireland, as well as the European Union,” said Mr Carmichael.