Economic Life

The Great Debate: Efficiency vs. Profit

          

  Starting in 2014, Ireland is facing an issue in their agricultural policy.

 Simon Coveney has been attempting to convince the

 European community in order to give agricultural 

ministers more say in 

the decision regarding the European 

climate change legislation. 

It is also understood that the National government has given 

the Rural Development 

Programme (RDP) its final 

opportunity to launch a public meeting. The Taisce’s agriculture office

 are in charge of these developments and have been waiting for a decision
 from the government for over a year and a half. Taisce believes that the 

government has not 

made a decision yet because of the 

Food Harvest 2020 (FH2020). The government is in 

supporting a verdict that will in turn 

damage Ireland’s environment with 

the proceeds going to a large

 dairy processors. The FH2020 plan to

 aim at a 50% increase in size of milk 

produced in Ireland. Whereas the 

RDP anticipates to find 

different solutions that will produce a practicable means 

of support for farmers and protect the environment. 

The debate still continues and has not yet been resolved.

Extraction Industry

        The extraction industry in Ireland, The Irish Mining and Quarrying Society, were founded in 1958 in order to deliver a central point for all working in the extractive industry. Each member is selected by the selectors of the industry, including a variety of branches (i.e. exploration geologist and equipment suppliers). This industry also acts as a forum for communication between different branches of the industry, allowing it to illustrate the views in a coordinated style. This society is recognized as a major state organization with over 200 full society members.  

Top Five Manufacturing companies and Service Industries

1.      Medtronic pLc: 4,000 employees    $15,8 billion turnover

2.      Ingersoll-Rand: 250 Employees     $12.2 billion turnover

3.      Actavis: 2,800 Employees    $12.1 billion turnover

4.      Dell Ireland: 966 Employees    $10.5 billion turnover

5.      Smurfit Kappa: 41,523Employees    $8.1 billion turnover

IT services

ICT is the main growth factor

 for Ireland and the availability of 

highly skilled IT professionals

 have appealed many high 

profile companies that continue to reinvest.

Accounting and Auditing

There is a steady demand for compliance and risk professionals. These professionals are required in pharmaceuticals, manufacturing, and energy industries.

           

Innovation and Intellectual Property Related Enterprises

Despite the economic downturn,

 businesses involving innovation 

and niche production continue to develop.

Green Sector Jobs

Employment in this industry is on a 

rise in terms of the recruitment agencies. Jobs in green areas, renewable energy, 

environmental and energy-efficient technologies 

are predicted to continue to grow.

The environmental sector has the 

likelihood to turn into a treasured

 factor to long-term economic 

development in Ireland.       

        Business Services

In recent months of constant bad 

economic news, it is clear that private 

investment has continued through the 

IDA pipeline. Exports were up by 3% valued 

and $67.59 billion. There is a great chance

 that a great variety of native businesses

 are going to join multinationals in transferring 

facilities from Ireland.

            Economic Downfall: Unemployment Rates

Despite the potential Ireland illustrates for recovery, the crisis still continues and major economic challenges are faced. The unemployment rate is high, precisely among the younger generation, mainly due to the fact that smaller business have limited access to finance.