Ireland’s competitiveness watchdog emphasizes the need for urgent action to address long-standing challenges hindering the country’s ability to remain competitive in the global market. Despite performing relatively well in terms of competitiveness compared to other EU countries, complacency is discouraged as infrastructural deficits and other issues could impact investment streams domestically and internationally. The chairperson, Professor Frances Ruane, highlights the necessity of continuous effort to achieve sustainable growth and warns about threats to Ireland’s competitiveness due to changing EU regulations and infrastructural shortcomings.
The report outlines 20 recommendations for the government, emphasizing the importance of mitigating capacity constraints, improving construction planning, advocating for EU market integration, and addressing the high cost of doing business. It also stresses the need for skills reforms, digitalization incentives, and infrastructure upgrades to support competitiveness.
The council’s proactive approach to addressing these issues signals a positive step towards sustaining Ireland’s competitiveness and economic growth in the long term.