Investment Belfast, the joint venture between the public and private sectors to promote the city as a business location, saw the number of inquiries it received from potential inward investors rise to 68 last year.

The company, which was set up in 1998, is on schedule to attract more than £250 million sterling (#416 million) of new investment and up to 500 jobs in the three years to December 2001.

Chief executive, Mr Brendan Mullan, said the organisation had helped reposition the city in the eyes of possible investors. One of the highlights of the last 12 months was the body's trade mission to Boston and Pittsburgh, which brought £10 million to Belfast.

"We are a young organisation but we have begun to address some key issues about the city, we have become an information technology portal for Belfast and we have been able to show that Northern Ireland technology can compete with the best in the world," Mr Mullan added.

Investment Belfast works in partnership with agencies such as the Industrial Development Board in the North, to promote the city.

In the last year the company has targeted three major growth sectors including; information and communication technology, life and health technology and environmental technology.

It also launched a number of new initiatives in the city including a web gateway to the city to encourage online tourism and an innovation conference to promote international and national business successes.

Mr Mullan said although the city had worked hard to attract blue chip investors, those that located tended to be organisations which were already familiar with Northern Ireland.