MULTINATIONALS in Ireland present a major opportunity for Ireland’s ascent out of recession, an engineering conference heard yesterday.
In his opening address to some 400 delegates gathered in Cork for the Engineers Ireland Conference 2010, president of Engineers Ireland Dr Chris Horn outlined the value and range of multinationals based here, which he said placed the country in a unique position for recovery.
The number of multinationals operating here is “jealously viewed by competing jurisdictions”, said Dr Horn, who advocates co-operation and innovation in the multinational sector.
“Our multinational footprint is a considerable competitive advantage in Ireland, that creates opportunity for collaboration – in the widest sense – with many of the best companies in the world,” he said.
The security of the EU and the benefits of the euro as currency, together with national resources like agrifood, marine and the underused electromagnetic spectrum place Ireland in a unique position worldwide, he added.
A vast international diaspora – seven times larger than that of Israel or India – adds to Ireland’s value, along with our status as a small nation suitable for market trials as a precursor to addressing global markets.
Dr Horn admitted that the smart economy “will not provide all the answers”, but said it could play a crucial role in kick starting the economy.
“I believe it [the smart economy] can be one major component of a solution to our jobs crisis and faltering economy,” he said.
One of four co-founders of Iona Technologies, which specialises in distributing service-oriented architecture infrastructure, Dr Horn claimed Irish society was reeling from incompetence but must focus on effective regulation to move towards a prosperous future.