Business groups welcome portfolio allocation

Business organisations have welcomed the announcement that Maire Geoghegan-Quinn is to be allocated the Research and Innovation portfolio in the new European Commission.

Employers’ group Ibec said it was an important portfolio for Ireland to secure.

“Research and innovation will be central to providing high quality jobs and prosperity. The area is fundamental to both Europe’s and Ireland’s future competitiveness,” said the organisation’s director of International Affairs Brendan Butler.

“The appointment will ensure that Ireland will play a key role in influencing both current and future research priorities and funding for the entire EU,” he added.

Chambers Ireland chief executive Ian Talbot said the allocation of the portfolio "underlined the benefits of the country being at the heart of Europe."

“Building smart economies will be essential for restoring competitiveness in the Irish and European economies and one of the Irish Government’s key strategies for future economic growth,” he said.

Elsewhere, Microsoft Ireland's managing director Paul Rellis decribed the appointment of Ms Geoghegan-Quinn as a welcome development from the country's perspective.

"Technology and Innovation will be the key drivers for job creation in the Smart Economy in Ireland and across Europe in the next decade and it is fantastic news that this strategically important portfolio will be managed by Ireland's Commissioner," he said.

"Commissioner Geoghegan-Quinn's appointment to such a valuable and influential portfolio is a huge vote of confidence in Ireland and a ringing endorsement of the Government's drive to establish Ireland as a Smart Economy," he added.

Science Foundation Ireland (SFI) also welcomed the portfolio allocation and noted that research and innovation policy impacts on all aspects of European economy and society.

The National Digital Research Centre said securing the portfolio was very important.

"Economic recovery in Ireland is going to depend more and more on our ability to turn ideas into income and jobs. This appointment is both a significant affirmation of Ireland's current research and innovation capabilities but also a huge opportunity for us to leverage new investment towards international markets,"" said chief executive Ben Hurley.