THE PRIVATE and public sectors are focused on the future of the economy.

We have a shared vision and ambition for an economic renaissance, which will be achieved by maximising the oil and gas opportunity - both domestically and internationally - and investing in the region’s other key industries and the entrepreneurial environment to deliver a more diverse and resilient economic base.

The renaissance vision and ambition are driving action and investment in key sectoral projects and momentum is building around transformational opportunities to drive company growth and retain and create high-value employment for the long term.

Read more: Billions of pounds of projects to drive Aberdeen’s transformation

Diversification is fundamental to the future of our economy. The renaissance strategy for the region is about action and investment to realise our specific sectoral opportunities to grow businesses, increase efficiency and productivity, and create high-value employment.

Anchoring high-value oil, gas and energy supply chain jobs here long term is essential and that involves a combination of innovation, diversification and internationalisation.

The region has the advantage of several sector strengths to build upon. We account for around 25 per cent of Scotland’s primary agricultural output, 20% of its food and drink output, and are home to Europe’s largest white fish port.

There’s a world-class life sciences cluster of researchers, clinicians and companies in Aberdeen that is developing the next generation of biotherapeutics to treat modern epidemics.

Our tourism sector is targeting annual revenue of £1 billion by 2023.

Digital uptake could have a transformational impact across these sectors and we are pursuing opportunities to build a cluster of digital product companies in the industrial digital space, serving corporate markets here and internationally across energy, agriculture and life sciences.

If we continue to be ambitious, work together, identify and invest in transformational opportunities, and maintain a global outlook we will be a vibrant, internationally focused city region.

We will also be a place of opportunity and enterprise with industry-leading digital, innovation and technology hubs and a renewed sense of confidence that makes a significant economic contribution to Scotland and the UK.

Looking ahead four years, significant momentum will have developed within the sectors with clusters of companies growing. The region will have a growing reputation for its economic diversity with growth driven by innovation, internationalisation and digital transformation.

Read more: Aberdeen puts its faith in tourism as it weans itself off oil

Place has an important part to play in securing our economic future. Having vision and ambition for our built environment and amenities supports talent attraction and retention as well as inward investment. It also influences perceptions of us as a business location.

Investment in place is fundamental to ensuring we are a competitive and attractive location in which to live, work, invest and study.

Jennifer Craw is chief executive of Opportunity North East.