Enda Kenny (Mayo, Fine Gael) | Oireachtas source

Deputy Higgins asked if I learned any new ideas at Davos and the answer is "Yes", quite a number. I did not meet any plumbers from Castlebar but the chief executive of the World Bank said in his contribution to the meetings that in the next 30 to 40 years, water will be one of the most critical issues, globally. In fact he argued that it's shortage, use or misuse will be a cause of international concern within the next decade or so. It is also evident that Europe needs to get its act together in terms of developing an energy grid for the continent. The extent of drilling for shale gas in the United States is causing energy prices to drop there while in Europe, prices are 300% higher. This is of enormous significance, in terms of huge investments by international companies. That is why it is important that the inter-connector between Ireland and Britain is now up and running. Furthermore, the memorandum of understanding signed by the Minister for Communications, Energy and Natural Resources, Deputy Rabbitte, and his British counterpart recently for the sale of Irish renewable energy directly into the British market is also significant. I spoke to the Prime Ministers of Portugal and Spain yesterday about the importance of interconnection between both countries and connection on into France. This is an issue that cannot be allowed to drift on for years because it is very important for jobs in all of those economies.

The real value of Davos is the importance that others attach to discussions with them about their industries here, the productivity of the Irish work force and the extent of their public proclamations about doing business in a country like Ireland and the fact that they consider it important that one takes the time to talk to them about any concerns or anxieties they might have about corporate tax rates or other issues. It is important that one can provide reassurance to companies so that they will continue to want to invest here. The forum also allows one to meet particular chief executives or business people who are considering investing in Ireland. In conjunction with the IDA, it is important to be able to make a strong sales pitch for investment in Ireland.

When I had the privilege of opening the e-Bay-Paypal facility in Dundalk recently, the chief executive spoke to me of the company's happiness with the workforce, their productivity and the general business environment in Ireland. Positive comments about the workforce coming from individuals like that are much more important than similar comments coming from politicians. They are, after all, the front-line investors who actually make the decision to invest in this country, as distinct from others. It is all part of the programme to make us the best small country in the world in which to do business by 2015.

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