Recovery gaining pace with series of high-profile investments
Flags, parades and the past have the potential to cost NI essential investment
US diplomat Richard Haass assisted by Harvard professor Meghan O’Sullivan, speaking to the media at Stormont Hotel in Belfast, where he is chairing negotiations dealing with issues including contentious flags and parades. Photograph: Paul Faith/PA Wire
Every Christmas Eve I like to have a last-minute race, panic buying around Belfast city centre. It’s the perfect occasion to run into old friends, engaged in the same activity, to stop for lunch in one of the many great local pubs or restaurants and then wander up to have a final look at the Christmas tree in the grounds of City Hall.
It has been a tradition of mine since president Clinton officially switched on the Christmas lights what now seems like a lifetime ago and promised Northern Ireland that one day it could have a much brighter future.
This Christmas Eve, if Clinton were to return, he would see that his promise is coming true. The economy may not still be quite where it should be but the recovery is picking up pace and there is an air of optimism emerging in the local business community.
According to research conducted by Ulster Bank, firms last month recorded their fastest rate of growth in nine years. Its most recent PMI survey, which measures the performance of private sector firms, showed a surge in both business activity and new orders in the North last month.
In the last 12 months Northern Ireland has also successfully landed a series of high-profile investment projects from the likes of Fujitsu, BT, Caterpillar and Stream, which will deliver a major boost for the local economy.
Aside from the stalemate over political disputes, there are strong expectations that the economic outlook will be much better in 2014 than it was this year.
But unfortunately, there is always the threat that legacy issues from flags to parades could temporarily derail the recovery or, in a worst case scenario, cost Northern Ireland further investment and jobs.
That threat has manifested itself again recently in a series of sporadic security alerts in Belfast and Derry in the run-up to the festive season that has primarily affected retailers and the hospitality industries. They have dealt with this threat with good natured resilience and have been largely supported by people and communities determined to send their own message to a small minority involved in these activities.
The way in which the public and local businesses have reacted to these incidents reflects, in part, the very particular nature of living and doing business in Northern Ireland. One of the byproducts of decades of local unrest was the emergence of a certain spirit, still exemplified by the business community, of a refusal to give in to threats.