Niall Collins (Limerick County, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

873. To ask the Minister for Jobs, Enterprise and Innovation if Enterprise Ireland, EI, is sufficiently resourced to carry out its duties to the fullest extent given a risk assessment report carried out in late 2013 and 2014 by EI wherein it admitted that it needed to reduce its workload as it did not have the capacity to deal with work at hand due to the impact of the moratorium in place and its remit in the future outlook; and if she will make a statement on the matter. [22001/16]

Niall Collins (Limerick County, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

874. To ask the Minister for Jobs, Enterprise and Innovation if Enterprise Ireland, EI, is sufficiently resourced to play a pivotal role in Government contingency plans following the United Kingdom’s decision to vote to leave the European Union, given the admission in a risk assessment report carried out in late 2013 and 2014 wherein EI admitted that it needed to reduce its workload as it did not have the capacity to deal with work at hand due to the impact of the moratorium in place and its remit in the future outlook; and if she will make a statement on the matter. [22002/16]

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 873 and 874 together.

The risk assessment report which formed part of Enterprise Ireland risk management process was based on analysis pertaining to the situation in 2014.

Since then, and over the past year, targeted open recruitment and promotions recommenced for the first time since the embargo of 2009, and is ongoing, which will enable Enterprise Ireland to match resources with their strategy to support the development needs of their clients as well as reacting to needs that arise as a result of the altered environment following the UK referendum result.

Enterprise Ireland is well on track to deliver its targets for supporting startups, increasing exports and supporting job creation, as set out its Strategy 2014 to 2016.

In 2015, EI clients created a record 10,169 new jobs and achieved a record level of exports totalling €20.6bn.

As regards the UK Vote to leave the European Union, and the importance of the UK market, EI client exports to the UK increased by 12% last year to reach €7.5bn. Significantly however, in the context of Brexit, UK exports, as a share of total exports, have reduced from 45% to 37% over the period 2005 to 2015 as EI clients have diversified their export base. High Growth Markets (e.g. China, Brazil, etc.) have continued to increase in importance over the past 10 years and now account for 12% of total exports compared to 7% in 2005.

Despite the continued diversification of the Enterprise Ireland client export base, the UK’s vote to leave the EU will present significant new challenges for Irish companies exporting to the UK. In response, Enterprise Ireland has begun its plans to support clients exporting to the UK, including:

1. Information and Guidance:

Enterprise Ireland will run an information campaign including: practical guides, online information and webinars, an updated UK market access guide and regional seminars in Ireland and the UK. Further details are available at www.enterprise-ireland.com/brexit.

2. UK Market Support:

Enterprise Ireland's UK team will support clients to identify key business opportunities in the short and medium terms. They will also provide advice and support on responding to the implications of Brexit such as improving competitiveness and reducing supply chain costs.

3. Competitiveness and Market Development Supports:

Enterprise Ireland will intensify its work with clients, to improve their competitiveness in the market, through its management capability and development programmes.

4. Market Diversification Support:

Enterprise Ireland will intensify its strategy of supporting clients to diversify into new markets. As part of this strategy, Enterprise Ireland will intensify its International Trade and Investment events schedule for the rest of 2016 to include trade missions and events to Northern Europe, USA, China, India and other high growth markets.

5. International Sector Clustering Strategy:

Enterprise Ireland will expand its focus on promoting Irish sectoral cluster capabilities in key sectors to international buyers in growth markets including Northern Europe, USA and Asia Pacific.

Since the announcement of the vote of the UK to leave the EU, I have been in regular contact with key agencies, in particular Enterprise Ireland, and have met with other key business organisations, to gather intelligence on the implications of Brexit and to plan our responses. In turn, Enterprise Ireland has been engaging intensively with its clients to ascertain the potential impact of Brexit on their operations and strategies. The strategies of Enterprise Ireland and their clients will no doubt evolve to meet the challenges and opportunities that will arise.

Based on developments to date, I am satisfied that Enterprise Ireland is already fully engaged with its clients on the implications of Brexit. As the situation evolves and specific challenges emerge, I will keep under review the resources required to address them.