Robert Troy
Question:366. Deputy Robert Troy asked the Minister for Enterprise, Trade and Employment when the funding will be available through the Shared Island fund for enterprise development across Northern Ireland. [36577/23]
View answerTuesday, 25 July 2023
Questions (366)
Written answers
The development of an integrated all-island economy is one of the key achievements of the peace process. The growth of the all-island economy over the past 25 years has helped to drive prosperity across the island, reinforcing the peace dividend for communities. Protecting and growing the all-island economy is a major priority for Government and this is reflected in the Shared Island initiative and revised National Development Plan.
Through the Shared Island Initiative, the Economic and Social Research Institute has undertaken a joint research programme on ‘The Economic and Social Opportunities from Increased Cooperation on the Shared Island’. Reports published to date have focused on cross-border trade in services education, foreign direct investment and productivity across the island. The Government commissioned this research programme to provide a high-quality evidence base to look, in real terms, at how the all-island economy can continue to be developed, accruing economic and societal benefits both North and South.
The Shared Island initiative is backed by Shared Island Fund, which will help to achieve the delivery of all-island investment commitments. In seeking to harness the opportunities offered by the Shared Island Initiative, my Department has been working closely with the Northern Ireland Department for the Economy as well as the three enterprise agencies on the island – InterTradeIreland, Enterprise Ireland and Invest Northern Ireland. Through collaboration we are best placed to deliver on advancing the all-island economy to the benefit of the people and businesses in both jurisdictions.
Discussions on the development of a potential Shared Island-funded scheme are ongoing. Officials from my Department continue to work closely with relevant stakeholders and the enterprise agencies will soon be in a position to submit a proposal for funding to the Shared Island Unit in the Department of the Taoiseach.