A new report has recommended that a clear economic strategy for Northern Ireland is needed in order for the prosperity created since the Good Friday Agreement to continue.
The research, carried out by consultants BDO NI on behalf of Trade NI, also calls for the regulatory burden on businesses in the north to be reduced.
The study, which aims to act as a blueprint for driving growth over the next decade, also states that increasing the productivity of the Northern Ireland workforce, as well as the skills base of the workforce, should be a priority.
"Over the last 25 years, Northern Ireland has enjoyed the benefits of a peace dividend," said the Chief Executives of the three bodies that make up Trade NI, Glyn Roberts from Retail NI, Colin Neill of Hospitality Ulster and Stephen Kelly from Manufacturing NI.
"Over the next ten years, the focus should be a prosperity dividend. Our vision is for Northern Ireland to become the very best place in these islands to locate, start and scale up a business."
The paper calls for initiatives to attract skilled workers, as well as investments in universities and higher education.
Academies also should be developed to assist with the transfer of workers from the public to private sector.
The report also calls for tax incentives for businesses to encourage the development of skills.
Investment in infrastructure is also required, the paper claims, to make key locations more attractive for foreign direct investment.
The region also needs better air connectivity, the research suggests.
Northern Ireland's unique trading position in relation to both the EU and UK markets should be capitalised upon, it also states.
The report also outlines the need for opportunities around the green economy to be pushed and says the planning process in Northern Ireland needs to be overhauled to remove blockages to economic growth.
Other recommendations include the establishment of a new business forum made up of trade bodies, government, businesses, finance and the environment, as well as improved marketing of Northern Ireland.
"Northern Ireland has vast untapped potential," the three Trade NI CEOs said.
"We have demographics on our side with approximately 40% of our population under the age of 40.
"We have a skilled workforce, a steady pipeline of talent from our higher and further education institutions, dual market access to the UK and the EU, and emerging clusters in new industries like tech, cybersecurity, health and life sciences.
"But there is so much more we can achieve if we get the fundamental building blocks in place."
The report is to be launched tonight at a reception at Iveagh House in Dublin hosted by Tánaiste and Minister for Foreign Affairs Micheál Martin.
It will be attended by a large group of business leaders from Northern Ireland.
"This report is an important contribution to our understanding of the economy in Northern Ireland, setting out an ambitious economic vision for the years ahead," the Tánaiste said.
"It sets out what needs to be done if Northern Ireland is to maximise the economic dividend of the peace, as well the unique opportunity provided by dual access to both the UK market and the EU's single market for goods."
