Reaction/ business community: Business and employers' organisation IBEC has said it regards the enterprise strategy report as a "wake up call". "Ireland today is competing head to head with countries such as Finland, Germany, the US and Japan," said Mr Turlough O'Sullivan, IBEC's director general.
"Ireland, along with these countries, will also have to cope with the huge developments under way in China and India. Unless we rise to this new dynamic we will be left behind."
He called on the Government to put enterprise at the heart of its agenda.
The American Chamber of Commerce in Ireland strongly welcomed the report. Chamber president Mr Ciaran Ennis said it set "the plinth for Ireland's economic growth and development in the coming years".
"The role which foreign direct investment plays in our economy has clearly been acknowledged in the report and US industry must openly be credited for its long-term involvement and commitment in this regard."
The message that Ireland was intent on the preservation and promotion of a highly open and enterprise focused economy, together with competitive rates of corporate taxation, would appeal strongly to the international investment audience, including US corporations.
Enterprise Ireland said it would be taking on board the direction set out in the report in the development of its new strategy in the autumn.
Director of the Small Firms Association Mr Pat Delaney said the "acid test" on whether the report would be acted upon or would gather dust, would be the creation of the expert group on enterprise. Setting up the group to oversee implementation of its strategy, is recommended in the report.
Mr Delaney said his association welcomed the report's recommendation on management development as it viewed its absence as a major structural flaw in Irish business, particularly among owner managed enterprises.
