Business reaction:A broad welcome from the business community for the plan was accompanied by concerns about achieving value for money and delivering the elements of the plan on budget and on time.
"Expensive lessons were learned in the last national development plan and we must ensure that we see the benefits in the current plan by ensuring timely delivery, value for money, effective oversight and return on investment," said John Dunne, chief executive of Chambers Ireland.
"The failure of the last plan to reach its spending targets in the BMW region also cannot be overlooked. This plan benefits from the fact that it was conceived fully in the context of the National Spatial Strategy and we hope that it will deliver more balanced regional development as a result."
While he welcomed the fact that the plan represented a significant acceleration in capital spending, Mr Dunne said the Government must make it a priority to maximise the capacity of the economy to absorb capital spending to avoid any inflationary effects.
Employers' organisation Ibec also warned that the costs and benefits of each of the plan's programmes must be rigorously appraised before they are embarked upon. "This should be open and transparent so that genuine national interest will outweigh any local political pressures," said Ibec director general Turlough O'Sullivan.
Ibec described the plan as comprehensive and inclusive.
"The high priority afforded to social inclusion through the €50 billion investment plan should ensure that the development of social capital keeps pace with overall economic development," said Mr O'Sullivan.
"But this will only be possible if the plan addresses the productive capacity of the economy and enhances our competitive position."
Welcoming the new NDP, the Construction Industry Federation (CIF) called on the Government to adopt a partnership approach to ensure delivery under the plan.
"The Irish industry has built up both capacity and expertise in the delivery of large-scale infrastructure projects and the State must draw on this to ensure smooth delivery of the plan between now and 2013," said CIF director general Liam Kelleher.
The CIF welcomed the commitment to place the spatial strategy at the heart of infrastructure investment priorities which it said would have the effect of increasing private sector confidence in the Government's regional development plan.
ISME, which represents small and medium-sized businesses, gave the plan a cautious welcome, saying it was concerned about measurability, costings, timing and achievability.
What is required is the introduction of a single agency with the overall joined-up responsibility of ensuring that the plan is implemented on time and on budget," said chief executive Mark Fielding.