THE NEED to promote Ireland as an investment location and to encourage foreign purchases of Irish goods and services has never been greater. As the domestic economy struggles out of recession and unemployment remains above 14 per cent, every opportunity must be taken to show that Ireland is not only open for business but is in the process of reinventing itself as a vibrant, export-orientated market.
The Government is extremely fortunate that, during the coming weeks, it will be relatively easy to project an Irish image on the international stage. Celebrations surrounding St Patrick’s Day will allow people of Irish descent around the world, along with millions of well wishers, to remember the “old country” and to join in a bit of fun and frivolity. The success of expatriates in convincing their adopted countries that being Irish is not only important, but demands public celebration, has been truly remarkable. Dyeing rivers green may be somewhat excessive, but there is something positive and supportive in lively, community-based parades.
Selling Ireland and its development potential has become easier in recent months as the gap between its fiscal performance and that of Greece and Portugal has widened. However, there is still much work to be done. The coming days and weeks will offer major opportunities to promote Ireland as a taxation-friendly, English-speaking, European gateway for multinational companies. Government Ministers, along with enterprise officials and managers of domestic enterprises should take full advantage of the linked openings, which range from a shamrock event at the White House to high powered gatherings across the world.
There is a tendency within sections of the media to complain about the cost of international travel and the number of ministers who go abroad on these occasions. That represents a short-sighted view. At a time when foreign investment is desperately needed, the importance of a ministerial presence at such public events cannot be overstated. When Enterprise Ireland officials go to meet potential investors at related meetings, the attendance of a Government Minister can make a significant difference. The same holds true, in terms of adding status and photo opportunities, for promotional events.
As the euro zone re-enters a mild recession, Ireland is bucking the trend. There is an expectation that export-led growth by international companies and agribusiness will be maintained this year, even as the services sector begins a tentative recovery. These positive developments will be emphasised by Government representatives and form the backdrop to a story of economic growth. The ability to convey this message at the highest level, be it political or commercial, is of enormous importance. So is the personal contact that goes with it. The Government hopes to exit the EU-IMF bailout by the end of next year and return to the financial markets. Increased inward investment and a resurgent economy would make that prospect much easier. Taking advantage of St Patrick’s Day celebrations to promote foreign investment and trade simply plays to our strength.