Paul Connaughton Snr (Galway East, Fine Gael)
Link to this: Individually | In context

Question 74: To ask the Minister for Enterprise, Trade and Employment his assessment of Ireland as a knowledge economy; and if he will make a statement on the matter. [11344/06]

Micheál Martin (Cork South Central, Fianna Fail)
Link to this: Individually | In context

Ireland is making good progress in putting in place the required policy framework to develop as a knowledge-based economy. It continues to face the fundamental challenge of moving from an investment-driven economy, which has brought tremendous benefits in terms of jobs and increased living standards over recent decades, to developing an innovation and knowledge-based economy.

The Government's strategy to progress towards a knowledge-based economy and society involves investing in the people and ensuring they have the skills they require to live and work in the global knowledge economy. It needs to ensure that Irish enterprises have the absorptive capacity to turn knowledge into competitive products and services, develop the capabilities to undertake research and development work in-house and to link effectively with the generators of new knowledge in the higher education sector in Ireland and internationally.

I will shortly bring to the Cabinet a proposal for a new science, technology and innovation strategy, to cover the years between 2006 and 2013. The strategy will set out ambitious but necessary goals and actions to develop Ireland's knowledge economy. This country needs to accelerate its rate of human capital development, to bring about a transformation in the quality and quantity of research undertaken by enterprises, directly and in co-operation with third level institutions, and to develop its reputation as one of the most attractive locations for leading researchers to live and work and for knowledge intensive enterprises to prosper. The forthcoming strategy will contribute significantly to achieving the goals I have mentioned.

The objective of the strategy is to make a quantum leap forward in research and development and to move Ireland from an impressive latecomer to an acknowledged leader in this critical area. Success will be marked by demonstrable achievements in a number of areas, including increased participation in the sciences by young people, increased numbers with advanced qualifications in science and engineering, enhanced contribution of research to economic and social development, increased output of economically relevant knowledge, enhanced productivity and an established profile for Ireland. The investment proposed in the strategy is in addition to the €1.2 billion announced by the Government in last December's budget to develop fourth level education in Ireland.