Batt O'Keeffe (Cork North West, Fianna Fail)

The strategy pursued by my Department is an integral part of the whole-of-government framework for economic recovery and growth adopted in 2008.

We are focused on employment creation through support for Irish firms, large and small, and winning foreign direct investment to sustain and expand job opportunities and boost our economic output, and they are achieving results. Last month's official figures show strong growth in exports by Irish companies in the first eight months of this year. Exports were up 8% between June and July and our trade surplus is up 29% to €4 billion.

So far this year Enterprise Ireland, EI, with funding from my Department, has delivered 32 overseas events including trade missions to Russia, Australia and the United States. Some 645 companies participated and significant business has been won. EI brought 395 international buyers into Ireland to meet client companies and write new business. Sixty-three international public procurement contracts for client companies have been won. EI believes that over 70% of exports lost in 2009 will be recovered in 2010.

So far this year, 44 new high potential start ups, 24 of which are outside Dublin, have been approved funding and there is a strong pipeline to the end of the year. IDA Ireland has secured 75 investments to date in 2010, which have the potential to create 6,000 jobs. These investments include the world's leading companies such as Stream, IBM and Google in Dublin, and United Healthcare, Lilly and Electronic Arts. The majority of these companies are already in the process of recruiting staff.

Building on these achievements, the new integrated trade, tourism and investment strategy is global in scope and covers both existing and new high growth potential markets. It sets out ambitious targets to be achieved by 2015, that is, to create 300,000 new jobs in manufacturing, tourism and traded services, of which 150,000 will be direct new jobs and another 150,000 will be generated through spin-off benefit. The strategy presents a suite of actions for building on existing strengths and driving trade relations in existing as well as new and emerging economies.

My Department is pursuing a number of other objectives in support of the achievement of the 300,000 jobs target, including a continued commitment to investing in research, development and innovation, reducing administrative burdens on business, driving the response to the innovation task force and addressing issues of competitiveness.

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