The strategy has been developed by HIE to capitalise on what it describes as several once-in-a-generation opportunities that could deliver hundreds of jobs and millions of pounds into the economy.

These opportunities, it says, are of a scale and potential to transform the region and make a lasting positive impact on Scotland’s economy.

The strategy is guided by the National Strategy for Economic Transformation (NSET), which calls for a new approach to deliver a green recovery and wellbeing economy for Scotland and all its regions.

It takes account of the leading role the Highlands and Islands plays in developing sectors such as energy, life sciences, creative industries, tourism, food and drink, and space.

There’s emphasis on harnessing the natural capital of the region to drive growth across these sectors as well as the wider blue economy – all of which are vital to Scotland’s economic transformation.

HIE plans to deliver its strategy through investment in People, Place, Planet and Prosperity.

The People aspect focuses on entrepreneurship, leadership and man­agement for both business and communities. It’s about skills in regional growth sectors, attracting and retaining fresh talent, and championing the principles of Fair Work.

Place stresses a strong focus on the region’s different geographies and predominantly rural communities, and the need to spread benefits and support community wealth building right across the region.

The Planet theme is about capitalising on the region’s natural resources in the most effective and sustainable way. There’s a particular focus on net zero including opportunities arising through the likes of offshore wind and green hydrogen and supporting businesses and communities to cut carbon.

Prosperity covers HIE’s role in helping businesses and community enterprises become more productive and innovative. This reflects the Scottish Government’s innovation strategy, aimed at making Scotland a fairer, more equal, wealthier and greener country.

The strategy also addresses the challenges affecting the region’s businesses and communities, with high cost of living, housing, transport, skills, population and digital connectivity, being some examples.

Stuart Black, HIE chief executive, said the organisation has unrivalled experience in deliver­ing transformational projects and programmes to develop businesses and communities.

He added: “We’re shifting the dial from what has in some cases been a low-wage economy to a more productive and prosperous one.

“Projects in development from Shetland to Argyll, and the Outer Hebrides to Moray, could deliver hundreds of jobs and millions in GVA through opportunities in the likes of offshore wind, green hydrogen, marine energy, marine biotechnology and life sciences.

“Some of our region’s best qualities were really brought to light in its response to the challenges of recent years. Partnership, innovation and international collaboration were significantly enhanced, along with a strong entrepreneurial approach and community spirit. These qualities will stand the Highlands and Islands in good stead as we go forward.

“Our vision is of a leading net zero region with a dynamic wellbeing economy that benefits its growing population and makes a valued contribution to Scotland. This new strategy is all about achieving that vision.”

The Scottish Government Wellbeing Economy Secretary Neil Gray said: “This is a welcome step for the region and Scotland as a whole. The Scottish Government alongside HIE is fully committed to addressing the local challenges identified within the strategy and making the highlands and islands a greener, fairer and more resilient region.

“Having met with businesses and communities across the region and spoken with HIE’s Board and Directors, I am confident this strategy will help contribute towards a wellbeing economy. One that provides for the people of Scotland by creating high-quality jobs, grows the economy and helps us reach our climate targets.”