The city's Chamber of Commerce warmly welcomed Northern Ireland's First Minister to the city yesterday.

Dr Ian Paisley addressed over 200 Chamber members at a business event, supported by the Londonderry Port and Harbour, in the City Hotel. He was warmly welcomed with a rapturous applause. In the audience were representatives from a wide range of business sectors including leading figures from Chambers of Commerce such as Limavady, Coleraine, Letterkenny and Strabane.

Dr Paisley commended the Chamber for their contributions to the economic development and the city and praised the business leaders for their commitment to working in partnership with the public sector. He spoke at length on the key aspects of the Programme for Government and reiterated his Executives top priority which is to grow the economy. He said:

"Sustainable economic growth and increased prosperity will provide the opportunities and means though which we can enhance quality of life, reduce poverty and disadvantage, increase health and wellbeing and build stronger, more sustainable and empowered communities."

The First Minister continued

"Growing our private sector is vital to delivering a more prosperous Northern Ireland. Increased productivity and international trade are key to growing the economy."

And the First Minister addressed the NW specifically in saying

"In recent years, the North West has been developing into a rapidly growing and vibrant region which continues to secure major investment from world class companies and ongoing reinvestment by our local companies." He also urged the Private Sector to support the ongoing regeneration work being taken forward by ILEX.

"This is the very purpose of the Ilex regeneration company. Harnessing the skills of business and government and the talents of many, in Londonderry and beyond, Ilex have developed a Masterplan for the regeneration of the city. This includes exciting and ambitious plans for the regeneration of the old military sites at Ebrington Barracks and Fort George. Private sector investment will be central to success, and I trust that a strong message of confidence is being sent by the Executive."

Chamber President Ian Crowe in his welcoming remarks said:

"On the eve of being sworn in as First Minister on 7th May at the start of this new era of power sharing Dr. Paisley said "People have come out of a dark tunnel and they can see there is a path out there for us. I think it has put a lot of faith and hope into people." Well nowhere do those words ring truer than with the business community here in the North West. Nowhere are we more conscious that violence and political instability are bad for business.

Bad for local business, bad for cross-border business, bad for international business, and bad for next generation business as many of our most talented young people become disillusioned, pack their bags for greener pastures and don't return home.

Now hope is reborn and we can roll up our sleeves with renewed vigor to tackle the problems which impede our efforts to build a more competitive economic base in Derry and the North West."

Mr Crowe called for more understanding and empathy from our devolved assembly and an equitable share of the public purse for the North West. He went on to outline the six pillars which underpin any competitive City; a skilled and educated workforce; Good connectivity; Innovation; Economic diversity; Good quality of life; Capacity to implement long-term development strategies. He welcomed the Executives draft budget and Programme for Government, promising that the Chamber would be scrutinizing the documents and making a detailed response on behalf of members.

He said "In particular we welcome the overhaul of the planning process and the commitment to the 6 month timeline for major projects. However the issues in planning are wide and varied and will need commitment by the Executive to make sure that the process is streamlined for not just the major applications but for the myriad of medium sized plans that combined have an effect of the success of our regions economy."

He concluded "A rising tide lifts all boats. All Northern Ireland's economic boats will never be lifted unless its two largest Cities, Belfast and Derry prosper and develop simultaneously and in equitable partnership with Central Government."

And the last word to Northern Irelands First Minister who concluded by saying,

"In this new era of devolution, when there is such opportunity for Northern Ireland's future, we want to engage with the business sector, with the people who generate wealth and want to provide more and better jobs, to ensure that the private sector achieves its full potential. I am confident that organisations such as the Londonderry Chamber of Commerce, as key stakeholders in the development, regeneration and growth enterprise, are more than ready to respond to the challenge.

For further information contact Helena - 02871262379