Irish companies are holding their own in terms of export sales despite the global market downturn, according to Enterprise Ireland's (EI) annual report for 2002, published today.
But EI also warned that continued competitiveness remains a key concern for indigenous companies, with slower demand in key markets and the impact of currency movements.
EI, which recently announced a major restructuring of its financial supports for initiatives to address the competitiveness agenda for start-ups and R&D, said the new focus was on innovation and the rapid commercialisation of state and industry funded research in third level institutions and at company level in traditional sectors as well as technology sectors.
Dan Flinter, chief executive officer of EI said that gaining and maintaining competitiveness in international markets is now top of the agenda for Irish businesses.
He said; 'We are witnessing a sea change in Ireland's industrial development. We no longer have a low cost, low wage economy and the days of securing sales for "me too but cost less" products and services are well and truly consigned to history.'
He said; 'The future lies in becoming smarter and faster at the commercialisation process to generate new waves of products and solutions that will quickly meet market driven demands.'
In the year export sales were up 0.7% to €10.7 billion; gross new export sales up by €1.3 billion - almost as high as in 2001; there were substantial export gains in the UK and Continental Europe; 11,400 new jobs were created - but there were net job losses of 4,868. In 2002 51 new high potential start-up companies were established, there was continued high investment in R&D and international marketing and overall productivity increased by 4.7%.
