Frank Fahey (Galway West, Fianna Fail)

I thank the Senator for raising this matter on the Adjournment.

Government investment in research, technological development and innovation, RTDI, is central to the national development plan strategy of building new sources of competitive advantage for indigenous companies, of embedding multinational companies, moving industry up the value chain and building a world-class, knowledge-driven economy in Ireland. Industry and related international investment are becoming increasingly knowledge-based as new research and technologies translate into globally marketable products and services. In this context we need to focus on building competitive advantage through research, technological development and innovation, by ensuring that Ireland becomes one of Europe's most attractive locations for knowledge-based enterprise. The outcome of this would be to achieve the greatest economic and social benefit and sustain industrial competitiveness in the long term.