John Perry (Sligo-North Leitrim, Fine Gael)
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Question 100: To ask the Minister for Enterprise, Trade and Employment if he is satisfied with Ireland's ranking as the 22nd most competitive country in the World Economic Forum competitiveness league table; and if he will make a statement on the matter. [31339/07]

John McGuinness (Carlow-Kilkenny, Fianna Fail)
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The WEF's report is based on analysis of statistics and personal opinion from business managers in ranking 131 economies. In his introduction to this years Global Competitiveness Report, Mr. Schwab the Executive Chairman of the World Economic Forum (WEF) says the report comes amid a time of uncertainty for the global economy. Ireland has maintained its position since last year despite the challenging world trading conditions.

Within the areas measured we are in 5th place for financial market sophistication and 4th for "goods market efficiency". This is important because included in this category we are ranked 1st for the positive impact of business rules on foreign direct investment. This again underlines our solid reputation as a flexible and competitive economy in which to invest. And of course what holds for foreign investors is equally true for the environment in which indigenous firms are encouraged to start and grow. These are clearly identified in the report as a competitive advantage for our economy.

Furthermore, underpinning our ambitions as a knowledge economy we also scored well on the quality of our education system and the quality of our management schools. The quality of our education, the depth of our human resources and the capabilities of our mangers will determine our competitiveness. In these areas we are particularly strong. The report reconfirms the wide understanding that our economy is conducive of the general business environment for enterprise and entrepreneurship. Together with the investment we are putting into the economy under the National Development Plan prioritising infrastructure, R&D and education, I am confident that we are successfully putting in place the conditions for future competitiveness and productivity growth.