​View: Making Northern Ireland the ‘Singapore of the western hemisphere’

When the Prime Minister, Rishi Sunak MP, delivered his speech at the Coca-Cola factory in Lisburn shortly after the Windsor Framework was signed, this goodwill was reflected in his comments when he said that Northern Ireland is “the world’s most exciting economic zone.”

The future certainly looked very bright and the opportunities immense - if the politicians could resolve their differences and get Stormont back up and running again, and if the Windsor Framework could be implemented in a way which facilitates trade across these islands.Back in 2018 my predecessor as FSB NI Policy Chair, Tina McKenzie, expressed similar sentiments to the Prime Minister when she set out an ambition for Northern Ireland to become ‘the Singapore of the western hemisphere’.

Tina and I are in total lock-step with that vision. If Government and policymakers can set the right conditions, business will deliver. The potential is enormous.

With access to the United Kingdom’s internal market and the EU’s single market, Northern Ireland could become a hub for international business, attracting investment from all over the world. If we get it right.As it happens, I was in Singapore a few weeks ago and was able to see for myself what it is really like. As I travelled there, I wondered if it would live up to expectations?

I can tell you that I wasn’t disappointed. It is a truly amazing place. I was there to attend a Conference with IAAPA (International Association of Amusement Parks and Attractions). It was the first time it had taken place since Covid.

This is where companies come from all over the world to exchange ideas, demonstrate new technology and bring forward new products.

It is absolutely vital for companies like my own to be there to make connections, to explore export opportunities, and to share our products with some of the best-known names in the industry such as Disney and Universal Studios.My first and lasting impression of Singapore was just what an impressive place it is.

As soon as you arrive, you are struck by the cleanliness of the city state. You see innovation as you walk down every street and around every block. The scale of it is unbelievable.Sustainability and environmental, social and corporate governance (ESG) are at the heart of everything they do. They ‘walk the walk’ as well as ‘talking the talk’.

They are living it out every single day and are setting a new gold standard in ESG. It is part of the everyday language of industry. I spoke to lots of Singapore based companies and what they all share is an absolute focus on a vision for the future – always reimagining Singapore, asking themselves how can they make it even better and what can they do better.

Innovation is at the heart of everything they do. They are continually looking forward and when they are confronted with a problem, like most businesses, they focus in on achieving the solution. And they were genuinely interested in hearing about Northern Ireland, its potential and what business could be done between our countries.Singapore is a connected place, and the city is driven by data. It bubbles with ambition, vision and drive. When they were confronted with a shortage of land, they simply started reclaiming land from the sea to expand their country - and now Singapore is 25% bigger than when it was first recognised as a country.How does this relate to Northern Ireland you might ask.

I would say we need to lift our eyes to the horizon and start reimagining a Northern Ireland of the future, drawing inspiration from what the people of Singapore have done.

We should aspire to be where they are; a country at the forefront of innovation with unique access to some of the world’s largest markets.The business leaders I met in Singapore were enthused by what they heard about Northern Ireland and its business potential. There is nothing to stop us here partnering with Singapore, to learn from them and aim to achieve what they have.

The only thing holding us back will be our own ambitions for Northern Ireland and the need for political stability.Just imagine the opportunities for future generations if we can deliver a Northern Ireland which truly is ‘the Singapore of the western hemisphere’ and ‘the world’s most exciting economic zone.’

The sooner we begin, the more we will achieve.