Maintaining Ireland's attractiveness as a profitable location from which to do business is a constant priority for both the Government and my Department. My Department, through the various agencies, is acutely aware of the changes taking place in the structure of the country's manufacturing base and how this is evolving in response to international market forces.
It has been apparent for some time that our strength and competitive advantages, vis-à-vis emerging economies such as India have changed as our economy has modernised rapidly in recent years. Competing in international markets with low value added services and basic manufacturing industrial activity no longer matches the competitive characteristics of modern enterprise in Ireland.
For example, under my Department, the Science Foundation Ireland programme has been set up to administer the €646 million technology foresight fund to support world-class research that will be the genesis of future innovation and new technologies. That, together with the development of third level education, the capacity to provide infrastructure for research and to transfer that research into companies and commercialise it, will be the future for Ireland. This also includes the upskilling and training of our workforce.
The answer is much the same as the previous question. I do want to repeat what I said earlier.
Additional InformationThis fund will help to drive long-term growth and competitiveness by helping to attract new high technology firms to Ireland while strengthening the capabilities of existing foreign and Irish-owned enterprises. In addition, IDA Ireland, Enterprise Ireland and Shannon Development are implementing a careful pro gression in the sophistication and breadth of higher value activities that companies carry out here. A critical feature of this type of activity is the development of strong partnerships and collaboration between business and universities, jointly undertaking substantial research and development activities. The IDA is placing considerable emphasis on encouraging foreign companies to add strategically important functions to their Irish operations while Enterprise Ireland is providing support for innovation in Irish companies.
I recently set up the enterprise strategy group under the chairmanship of Eoin O'Driscoll. I have asked the O'Driscoll group to recommend new strategies and policies that I, and the Government will need to take into account in charting a new course for enterprise in Ireland to the end of the decade. Among other issues, I have asked the group to specifically examine what Ireland needs to do to address the strengthening competition from Asian and EU accession states. Comments and views may be submitted to the group through its secretariat at Forfás, Wilton Place, Dublin 2 or to esg@forfas.ie.