Accelerate Policy-Making and Reduce Bureaucratic Obstacles: Topics to be Discussed at the Summit
Ireland's second annual Competitiveness Summit, held on July 7, 2025, brought together government leaders, economic ministers, and industry representatives to discuss strategies aimed at accelerating policymaking, reducing red tape, boosting Artificial Intelligence (AI) investment, and simplifying the regulatory environment to enhance economic competitiveness.
Key approaches discussed included speeding up public policymaking and cutting bureaucratic red tape to make the Irish economy more agile and responsive to international uncertainty and future shocks. This was emphasized by government leaders, including Taoiseach Micheál Martin and Tánaiste Simon Harris, at the summit.
Minister Peter Burke presented an Action Plan on Competitiveness and Productivity, focusing on areas within Ireland’s control to strengthen the economy’s competitiveness and resilience to adverse events. The plan highlighted the need for supporting innovation and AI investment by simplifying regulatory frameworks and fostering regulatory flexibility for emerging sectors such as AI and FinTech.
The summit also addressed the need to coordinate efforts to reduce financial, regulatory, and administrative barriers that hinder startups and scaleups. This included mobilizing public procurement budgets to support innovative products and services and improving access to diverse private capital sources.
Professor Frances Ruane, chair of the National Competitiveness and Productivity Council, addressed the summit, presenting the Council’s analysis and recommendations to underpin targeted policy actions.
In addition, Minister Burke told Cabinet colleagues that major investment is needed to ensure Ireland does not lose out on jobs of the future. He emphasized the need for more funding to be allocated for research, particularly in the area of AI.
The event was attended by the Taoiseach, the Tánaiste, and several economic and budget Ministers. The discussions at the summit aim to make the Irish economy "shock-resistant" and better positioned for future challenges.
Notably, the idea of selecting the next president by lottery was suggested, with Sinn Feín's Mary Lou McDonald not ruling out running for president. However, these matters were not the main focus of the Competitiveness Summit.
Russia's potential to block UN missions involving Irish personnel in Bosnia and the Mediterranean was also mentioned, according to Harris. However, this topic was not directly linked to the Competitiveness Summit's agenda.
In conclusion, Ireland's strategy to accelerate policymaking and improve competitiveness involves cutting red tape, speeding government decision processes, promoting AI and technological innovation with flexible yet harmonized regulations, and fostering an ecosystem that supports startups and investment. These steps are designed to make the Irish economy more resilient and better prepared for future challenges.
"Minister Peter Burke's Action Plan on Competitiveness and Productivity, discussed at the summit, emphasizes the importance of fostering regulatory flexibility for emerging sectors such as AI and FinTech, and supporting innovation and AI investment by simplifying regulatory frameworks to enhance Ireland's business competitiveness in the technology sector."
"During the summit, discussions also emphasized the need to coordinate efforts to reduce financial, regulatory, and administrative barriers that impede startups and scaleups, including mobilizing public procurement budgets to support innovative products and services and improving access to diverse private capital sources in the business field."
