Enterprise Ireland (EI) hosted its International Markets Week bringing to Dublin key representatives from its 32 worldwide offices. The annual event took place at the RDS, Dublin, 3rd-6th Oct.
It represented a great opportunity for Geoscience Ireland (GI) and its Member Companies to gain first-hand knowledge of key sectors and regions.
GI met with Market Managers from the UK, the Gulf, Africa, the Nordics and France.
The Gulf region reported a slowdown in infrastructure construction due to deflated oil prices – Saudi Arabia in particular, though a shift toward waste management, clean tech and water is expected. Oman is also witnessing investment in its water sector.
The EI UK Team advised that uncertainty in post-referendum UK market is playing a central role in the slowdown of commercial construction though advised infrastructure spending is likely to grow namely in rail transport (High-Speed Rail 2, Northern Line and Cross Rail), Hinkley Point, and Thames Water.
On Brexit, Julie Sinnamon, CEO EI, said:
“Exports to the UK are something which have been hard-won, and we are proposing to continue to grow exports to the UK. However, our intent is to grow exports to the rest of the world at a faster rate.”
In terms of innovation, Ms Sinnamon added EI’s focus is on working with Irish companies on competitiveness and innovation because: “that’s where you have better control over your pricing into the UK market (…) And we’ve seen some sectors in the UK where companies have been able to get price increases because of the level of innovation in their products”.
GI met with the EI Horizon 2020 Team who promoted the “SME Instrument & Fast Track to Innovation” targeted at supporting the transfer of innovative concepts into commercial products.