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DCU President Ferdinand von Prondzynski and Chief Economist with ‘Friends First’ Jim Power discuss Competitiveness on RTE’s Prime Time
Thursday 8 February 2007
DCU President Ferdinand von Prondzynski took part in an informed debate on ‘competitiveness’ on RTE’s Prime Time this week.
Professor von Prondzynski discussed the structural changes taking place in the Irish economy, as well as the importance of the Irish Research and Development agenda, which is vital for attracting foreign investment and more importantly creating indigenous enterprises.
Chief Economist with ‘Friends First’ Jim Power highlighted the threats to Irish competitiveness from other countries particularly China, which is producing thousands of highly skilled graduates.
The ‘Friends First’ Economist stated that Ireland should have a knowledge-based economy and focus on high levels of manufacturing and services.
The DCU President identified Science, Technology and Innovation, which are embedded in the recent National Development Plan as the way forward for competitiveness in the Irish economy.
He said that one of the major advantages for Ireland is that the country has an excellent reputation for providing a highly skilled workforce and consequently an excellent return on investment.
Professor von Prondzynski acknowledged that there is an over dependence on the construction industry, which does not have an international agenda and will eventually decline as the need for housing decreases.