Despite current financial turbulence in the global economy, Northern Ireland's high-technology businesses should continue to plan for the longer term, according to the Enterprise Minister.

Arlene Foster was speaking at the launch of the first report of 'MATRIX: The Northern Ireland Science Industry Panel'.

Addressing an audience of stakeholders from business, Higher and Further Education and Government, the Minister said: "If planning for stability and growth is important at times of economic success it is vital at times of economic slowdown. Right now we need forward thinking and innovative future planning which this MATRIX report represents."

MATRIX is a business led expert panel, formed in February 2007.

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It was set up to provide advice to the Minister on how best to maximise commercial and economic gains from the exploitation of Northern Ireland’s R&D and science and technology strengths over the next decade and beyond.

In the intervening 18 months, MATRIX - and its future focused Horizon sub-panels - have developed an eight volume report which sets out a series of complementary sectoral and macroeconomic recommendations for the Minister’s consideration.

MATRIX consulted widely across the Northern Ireland high-technology business community - especially in the key areas of ICT, Life & Health Sciences, Agrifood, Advanced Engineering (Transport) and Advanced Materials.

Receiving the report from the Chairman of MATRIX, Professor Damien McDonnell, the Minister said: "This is not a case of Government speaking to Government, nor is the report an academic study. MATRIX was deliberately created to represent the voice of high-technology industry in Northern Ireland.

"It is of the utmost importance that we in Government listen to and act upon what our leading business people have to say."

Ms Foster added: "What I hope and expect to get from the outworking of this MATRIX report is a blueprint for accelerating our economic growth, to give us a genuine step-change in the effectiveness and competitiveness of our economy over the medium to long term."

(PR/JM)