Repositioning Ireland as an internationally competitive location for business will support growth and encourage job creation, a recently released report suggests.
The National Competitiveness Council (NCC) report, NCC’s Annual Competitiveness Report, Volume 2: Ireland’s Competitiveness Challenge 2010, puts focus on long-term national competitiveness issues that can be prioritised to create a more competitive business environment.
“Repositioning Ireland as an internationally competitive location for doing business is essential to support sustainable economic growth and drive job creation” said NCC chairman Dr Don Thornhill.
While the economy faces unprecedented economic challenges, Ireland continues to show significant competitiveness strengths – not least of which is its resilient export performance. Ireland needs to build upon these strengths and develop a platform for future prosperity.
“Having benefited from competitiveness gains as a result of cyclical factors, we must now ensure that action is taken to achieve more long-lasting structural competitiveness gains. Given the wide range of challenges facing policy makers at present, we believe that immediate and decisive action is more important than ever.
“Economic recovery leading to improved living standards requires that we excel in key areas that determine international competitiveness” said Thornhill.
The NCC highlighted certain areas and issues that need to be tackled in order to achieve its competitiveness standards.
These include establishing structures, processes and capacity to support sustainable competitiveness, promoting and delivering economy-wide growth, addressing the needs of specific sectors, promoting fiscal stability, ensuring a sustainable tax system, as well as focusing on education, innovation and exports.
Martin Shanahan, chief executive of Forfás, said: “In order to achieve economic growth and employment creation, it is vital that policies designed to support enterprise continue to be prioritised and implemented”.