Posted on Thursday 30 June 2016 by Ulster Business

Investni says brexit wont deter investors

Alastair Hamilton, chief executive of Invest NI

Invest NI has said Northern Ireland will still be attractive to overseas investors despite the outcome of the EU Referendum.

Chief Executive Alastair Hamilton said the upcoming reduction in corporation tax and talented workforce will mean foreign direct investors will still want to set up bases here.

“As part of the 5th largest economy in the world, we are confident that Northern Ireland will continue to succeed as an attractive location for inward investment, in particular from our largest target market, the USA; and that the reduction in corporation tax will play an invaluable role in creating a business-friendly environment to support job creation, based on the combination of tax, talent and value,” he said.

Concern has been raised that after the UK voted out of the Europe, the draw of Northern Ireland to potential investors would have been diminished and some may decide to set up stall elsewhere.

But Mr Hamilton, who is in the US this week to try and woo investors, said trade with Europe will not be diminished by leaving the EU.

“As the EU sells more to the UK than we do to them, we are positive that mutually beneficial trading arrangements will ensure continued access to the EU market, whilst also having the freedom to develop new bi-lateral agreements in emerging markets and other geographies

“Ultimately, Invest NI will continue to offer and deliver the fullest range of support to both local and internationally owned businesses to drive economic growth. We will also fully explore all potential new opportunities that may emerge following the referendum result.

“This is the message that I will take to the USA next week as I meet with potential new investors.”

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