IRELAND is recognised as one of the most attractive business locations in the world, according to European Commissioner for Industry and Entrepreneurship Antonio Tajani.
Mr Tajani called for the spark of a new industrial revolution driven by investment in sustainable energy, technology, and industry.
He said all of this would greatly benefit Ireland.
"If we want to take the lead in the new industrial revolution, we need to enhance our technological leadership," he said.
"We need to take advantage of all opportunities provided by pooling our scarce resources.
"This is why the commission has proposed €80bn for Horizon 2020, our programme for investment in research and innovation," Mr Tajani added.
He also underlined Ireland's export success as a model to follow in a world where 90pc of world growth will come from outside the EU by 2015.
The centre is the official think-tank of the European People's Party, of which both Commissioner Tajani's political party and the Fine Gael party are members.
Mr Tajani was speaking at the European Ideas Forum -- which was held in Dublin yesterday -- where he said that there are indications that Ireland is on track to emerge from the economic crisis.