Challenges & Opportunities
By Eoin O’Driscoll, Chairman of Forfás
Ireland’s policy advisory board for enterprise, trade, science,
technology and innovation.
While the Irish economy faced unprecedented
economic challenges in 2010, Ireland continues to
show significant competitive strengths. Last year
saw a sustained recovery in Irish exports on foot
of a return to growth of international markets and
Ireland’s improving cost competitiveness. In recent
years, technology and globalisation have moved
Ireland from the periphery to the centre of activity.
The country is now better positioned to take
advantage of the resultant opportunity than ever
before. Ireland has a strong export performance,
an articulate, well-educated and flexible workforce,
over 1.8m people in employment, significant recent
investments in hard and soft infrastructure and the
country still enjoys a standard of living that ranks
among the highest in the OECD.
After a difficult couple of years, Ireland is now
taking on the thorny tasks of balancing the books
and rescuing its banking system. Rather than
being paralysed by past failures, the country is
now re-energising to take its future into its own
hands and focus on growth and jobs. Ireland’s
potential for growth remains strong due to its much
improved infrastructure, stock and skills base and
in November 2010 the European Commission
projected that the economy will return to moderate
growth in 2011, with an acceleration projected from
2012 onwards.
Sustainable and competitive enterprises will be
central to Ireland’s future growth and the means
by which the economy’s potential is realised.
Governments themselves do not actually create
jobs. They can provide the supportive business
environments but ultimately it falls on those
involved in companies to show the necessary
leadership and commitment.