Dáil Éireann Debate, Thursday - 23 November 2023
34. Deputy Denis Naughten asked the Minister for Enterprise, Trade and Employment the plans, if any, he has to extend financial supports to business involved in import substitution from outside the EU; and if he will make a statement on the matter. [51521/23]
View answerI understand that the Deputy is enquiring about support for Irish companies to manufacture substitute products currently being imported from countries outside the EU.
As a small open economy, Ireland relies on trade as a principal source of economic growth and improvement in living standards. Our openness to trade and investment has allowed for a diversification of our economy into sectors that have made it more resilient to both internal and external shocks. We want to limit state aid interventions, where possible, so that we can compete internationally and ensure that our companies do not face barriers to entry in new markets.
We are committed to building an efficient indigenous industry in Ireland. The Local Enterprise Offices (LEOs) are available to assist eligible companies with funding and soft supports. The LEOs were allocated an additional €9 million in Budget 2024 to help more SMEs go digital and decarbonise helping them save time, money and energy.
I also announced a new National Enterprise Hub which will include a dedicated website and phone line to help businesses access State supports. This initiative will help in navigating the comprehensive suite of supports that are available to business.
While there may be opportunities in certain sectors to reduce reliance on imports from markets that have proven to be disrupted, we are also aware that success in export markets is crucial to the long-term growth the Irish economy. Assistance for companies focused on growth through international sales is a priority for my Department and for our enterprise development Agencies.
