Sir Reg said that Northern Ireland needs to be as innovative and competitive as rival countries by concentrating on the areas in which the province could excel.

Opening the second annual "Skills for Innovation" conference at the Waterfront Hall in Belfast yesterday, Sir Reg said: "Innovation is a key driver for increasing productivity in any company. As such it is vital that we teach our current workforce, and that of the future, the skills needed to encourage innovation."

The Minister, pictured with Gary Anderson from Coleraine, the former chief designer of the Jordan and Jaguar Formula One racing teams, who was a keynote speaker, stressed the importance of employers, Government and individuals playing their part in ensuring that the Northern Ireland workforce had the skills required to use the opportunities presented by increased foreign investment and the expansion of local businesses.

The Skills Conference is part of Invest NI's Innovation Week which aims to show companies how innovation can help to significantly increase revenues and profitability.

The Minister told delegates that his department's skills strategy was helping the Assembly deliver an economic vision for Northern Ireland.

The strategy is Northern Ireland's first comprehensive framework for the development of skills.

It aims to assist the workforce to tap into their individual potential to make the most of their talents and skills.