Micheál Martin (Cork South Central, Fianna Fail)

The key strategy we have adopted involves trying to move to value-added activities which can be more effective in terms of dealing with our cost base. Our capacity to compete in sectors like low-cost services and low-cost merchandise has been reducing. As we invest more in research and innovation, small and medium sized enterprises and companies of that nature are in a better position to develop products, services and solutions which are of use to world business. We want to turn Ireland into a country that offers solutions on a competitive basis to the global marketplace. I have been impressed by the quality of our software and internationally traded services companies, as well as some of our engineering, high-end manufacturing and life sciences enterprises.

Having been on trade missions in the United States and elsewhere with officials from such organisations, I am aware that they are winning good contracts with blue-chip companies throughout the world, which demonstrates the quality of their products. We are doing certain things well as we try to maximise our competitiveness, although we should be doing better in other respects. The World Economic Forum ranks Ireland first in terms of the prevalence of foreign ownership, the impact of business rules on foreign direct investment and foreign direct investment and technology transfer. We are fifth in terms of the quality of primary education and seventh in terms of the quality of overall education.

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