Invest NI’s Kieran Donoghue Defends Derry Investment Record

URGENT UPDATE: Kieran Donoghue, the head of Invest NI, faced intense questioning from SDLP MLA Sineád McLaughlin during a Stormont Economy Committee session on October 25, 2023. Donoghue defended the organization’s investment record in Derry, asserting that efforts to stimulate economic growth in the area remain a top priority.

The exchange comes as Derry grapples with economic challenges, prompting local leaders to demand greater accountability and transparency from Invest NI. McLaughlin expressed concerns over the perceived lack of investment in the region, highlighting the need for immediate action to address local economic disparities.

“Derry has been overlooked for far too long,” McLaughlin stated, pressing for a clearer commitment from Invest NI. She emphasized that residents deserve to see tangible outcomes from investments made in their community.

In response, Donoghue cited specific figures, revealing that Invest NI has allocated £10 million to Derry in the past year alone, aimed at fostering innovation and supporting local businesses. He stressed that these investments are essential for building a sustainable economic future for the area.

“We are committed to ensuring that Derry receives its fair share of investment,” Donoghue insisted. He outlined future plans that include potential partnerships with local enterprises to further boost the economy.

As the session progressed, committee members voiced concerns over the pace of investment delivery, with many urging Invest NI to expedite processes that could yield immediate benefits for the community. The urgency of these discussions reflects a growing demand for economic revitalization in Derry.

Looking ahead, observers will be closely monitoring how Invest NI plans to implement these commitments and whether the promised investments will translate into meaningful changes for Derry residents. The outcome of this committee session may have lasting implications for economic policy in the region.

Stay tuned for further updates as this story develops and impacts on the local community unfold.