Economy Minister Gordon Lyons today announced an Independent Review of Invest Northern Ireland.
Minister Gordon Lyons with Sir Michael Lyons
The review will provide an independent assessment of the organisation’s efficiency and effectiveness as well as its capacity to strategically align with, and operationally deliver, the 10X Economic Vision. It will be led by Sir Michael Lyons.
The Minister said: “The 10X Economic Vision my Department published in May 2021 sets out our ambitions for the next decade and aims to create a step change in how we think about our economy. The realisation of this vision will ultimately see Northern Ireland situated amongst the elite small advanced economies in the world.
“Invest NI’s role in translating our 10X ambition into a new economic reality is crucial. Now is the perfect time to take stock and ensure the organisation is positioned to respond to a changing economic landscape in preparation for an economy that is ten times better.
“I am therefore pleased to announce that I have commissioned an Independent Review of Invest NI, which will examine its current business model and identify any support required to deliver our bold 10X policy objectives on innovation, growth and inclusion.”
The Minister went on to say: “I am delighted to confirm that Sir Michael Lyons, former Chair of the BBC and current Non-Exec Chairman of the English Cities Fund, has agreed to Chair the Independent Review Panel. Sir Michael has a distinguished track record and brings a depth of relevant experience which will be crucial in steering the public debate around the future of economic development in Northern Ireland.”
Sir Michael Lyons said: “The launch of the 10X Economic Vision presents a unique opportunity to encourage the reshaping of the Northern Ireland economy by placing innovation at the heart of policy development and delivery.
“Invest NI will play a pivotal role in the achievement of this vision and therefore it is the ideal time to review the organisation’s effectiveness and consider its capacity to deliver the 10X Vision.
“I am committed to ensuring all voices are heard as part of this review and am looking forward to working with key stakeholders from all sectors and regions of Northern Ireland.”
Details on individual panel members will follow in due course.
Notes to editors:
- The Independent Review of Invest NI aligns with the ‘New Decade, New Approach’ commitment for Departments to review their Arm’s-Length Bodies.
- Sir Michael Lyons is Chairman of the English Cities Fund, which is currently reshaping large parts of Salford, and has other large scale regeneration developments in Plymouth, East London, Wakefield and Liverpool. He is currently Chairman of SQW Ltd and has held a number of other Board positions as well as various non-executive and advisory roles. He is a former Chairman of the BBC (from May 2007 to end of April 2011). He led the national “Lyons Inquiry” into the functions and funding of local government (published March 2007) which argued for greater devolution and emphasised the local authority’s role in Placeshaping. He led two other significant reviews concerning the relocation of government services (2004) and the management of public assets (2004). He is a former Deputy Chairman of the Audit Commission (2003 to 2006) and Professor of Public Policy at Birmingham University (2001 to 2006). Sir Michael recently chaired the Belfast Innovation and Inclusive Growth Commission that published its “reset for growth” report in July 2021.
- The Department’s 10X Economic Vision document is available at: https://www.economy-ni.gov.uk/publications/10x-economy-economic-vision-decade-innovation
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