THE North West has won inward investment projects worth £385.2m in the first half of the current financial year, according to the latest figures.

The projects have either directly created or safeguarded more than 5,000 jobs.

Speaking at a reception organised by INWARD, the Warrington based agency for investment into the North West, Mr Mike Shields, new chief executive of the Regional Development Agency, called on the business community to play a leading role in wealth creation in the region.

"I am certain that the future prosperity of the north west will depend on the quality of its business," he told a packed audience at Manchester's Bridgewater Hall.

Mr Shields, who is based at New Town House, Warrington, called on businesses to exploit export opportunities more fully, work more with the region's universities, compete in the world market on the basis of added value rather than cost alone and be unafraid of learning from the best.

"We must target the exploitation of the newer, knowledge-based industries so that we can win on the basis of our knowledge, our creativity and our market understanding," said Mr Shields.

He said he was pleased that INWARD's board had taken the decision to merge with the RDA. "I very much value INWARD's membership base and look forward to this being expanded within the RDA," he said.

John Burrows, chief executive of INWARD, said the private sector had played a vital role in supporting his organisation's work, by its membership. Within the new RDA structure, the importance of this contribution would continue to grow.

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