Dr Frances Ruane, the Chair of the National Competitiveness and Productivity Council (NCPC), has said that in the face of global inflationary pressures, Government and enterprises must retain their focus on staying competitive.
In a statement marking the Council's 25th anniversary, Dr Ruane said that over the past 25 years the Irish economy has faced many challenges.
"The Council has played an important role in identifying the key priority areas where urgent reforms were required in order to ensure competitiveness and enhance productivity growth," Dr Ruane said.
"Looking ahead the twin climate and digital transitions will fundamentally alter the world economy," she said.
"The Council believes that Ireland must remain responsive and adaptable in order to deliver sustainable and inclusive growth and secure a higher quality of life for all of society," she added.
She said the past 25 years have shown that there will always be challenges, from cost pressures to trade disruptions, from skills gaps to infrastructural deficits.
"We must continue to focus on the key foundations of Ireland's competitiveness performance and address areas where improvements are possible by our own actions. Doing this will help ensure that Irish businesses can compete successfully in international markets and protect the resilience of the Irish economy throughout the economic cycle," Dr Ruane stated.
Over the past 25 years, the Council has reported to the Taoiseach and the Government on key competitiveness and productivity issues facing the economy here.
Its annual report - Ireland's Competitiveness Challenge - every year identifies key priority areas requiring reform and offers recommendations on policy actions designed to enhance the country's competitive position and productivity performance.
The areas prioritised over the decades reflect the different stages of the economic cycle as well as emerging structural challenges, such as education and skills, infrastructure, research, development and innovation as well as business costs.
