Dáil Éireann Debate, Wednesday - 5 April 2017
336. Deputy Tony McLoughlin asked the Minister for Jobs, Enterprise and Innovation the steps she is taking to attract foreign direct investment and indigenous investment to the manufacturing and service sectors here in view of the triggering of Article 50 (details supplied); and if she will make a statement on the matter. [16910/17]
View answerAt the strategic level, Enterprise 2025 sets out the roadmap for enterprise development, and details the actions required and being taken to support the manufacturing and service sectors. Our new trade and investment strategy, Ireland Connected, will be backed up by increasing our agency resources both at home and overseas and an intensified programme of trade missions.
Responding to Brexit, which has particular implications for border counties, has also been prioritised in the Action Plan for Jobs 2017 which sets out 20 specific actions aimed at growing and diversifying markets for Irish exports and maximise opportunities in foreign direct investment and research and innovation.
In addition to protecting the Northern Ireland Peace Process, maintaining the Common Travel Area, and influencing the future of the European Union, we have made it a priority to minimise the impact of Brexit on Ireland's trade and on our economy. Supporting the development and growth of indigenous companies and maximising Foreign Direct investment are key activities of my Department and Agencies.
Almost 50 additional staff are being deployed by my Agencies to support firms to enter new markets and to attract new investment.
Enterprise Ireland is working with firms to support product and service innovation, the adoption of lean systems, smarter sourcing strategies and, crucially, the identification of new overseas markets. Enterprise Ireland will shortly launch its new Eurozone strategy, with the aim of increasing indigenous exports to the Eurozone by 50% over the period to 2020. In addition, we are engaging with companies to help them adapt to currency fluctuations and to support product and market diversification. The Local Enterprise Offices are working with non-EI client companies providing support and advice services as well as bespoke services to foster new business opportunities in local areas.
IDA continues to identify potential for mobile FDI in key sectors and actively pursue these opportunities including through targeted trade missions and roll-out of advertising campaigns to promote Ireland’s offering.
My Department is currently undertaking research to examine the implications at firm-level for the most exposed enterprise sectors of the UK being outside of the European Single Market and Customs Union. This research will inform an assessment of the way in which Brexit will affect individual sectors of the economy and our targeted response. I am also engaging with stakeholders across the country to assess the implications for different regions and sectors. On 30 January, I hosted a major stakeholder event in Carrick-on-Shannon to facilitate a dialogue with stakeholders about the impacts, challenges and opportunities arising as a result of the UK decision to leave the EU, across the broad range of policy areas for which the Department is responsible.
Further, my Department is also funding a project through InterTrade Ireland on the North-South trade implications of Brexit. This project will provide an understanding of the impact of different trade and tariff regimes which might be imposed following Brexit.
