Business Irish

Friday 19 September 2014

Ireland's competitiveness on the rise

Sarah Stack

Published 03/09/2014 | 11:37

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Richard Burton
Richard Burton

Ireland has jumped three places in the world economic forum global competitiveness index.

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Jobs Minister Richard Bruton welcomed the ranking in 25th place, our highest since 2009.

The minister said announcements like this make it easier for him to go in to boardrooms in cities like Sydney, Boston and Beijing and try to persuade foreign companies to invest in Ireland.

“By making it easier for Irish companies to do business in world markets, and more attractive for multinational companies to locate operations here, we can make a real difference to the level of job-creation,” Mr Bruton said during a trade mission in Australia.

“That is why we have made difficult decisions over the past three years in order to allow us avoid increases in labour taxes, why we have reformed the wage-setting mechanisms to make them fairer and more responsive to changing circumstances, as well as a range of other measures to improve our competitiveness.”

Ireland was previously named the number one place to do business by  Forbes Magazine and has moved up the IMD competiveness rankings over recent years, up from 24th in 2011 to 15th in 2014.

“Today’s announcement, coming after a succession of positive economic data including yesterday’s Exchequer returns, gives us further confidence that the plan we have adopted is working,” Mr Bruton added.

“The challenge now is to press on with this plan, support the growing economy and create the jobs we need.”

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