Taoiseach Brian Cowen will today officially launch a new initiative aimed at creating 300,000 new jobs over the next five years.
It's hoped the 'Trading and Investing in a Smart Economy' plan will create jobs in manufacturing, tourism and trading services, as well as boosting exports from Irish-owned companies.
News of this employment plan comes after more bad news on the jobs front yesterday, with the announcement that 195 jobs are to go at an electronics manufacturing firm in Dublin.
UTC Fire and Security - based in Citywest - told staff that it would be winding down its Irish manufacturing base within the next 13 months.
There was some good news however with the announcement from Tesco that it is opening a new store in Kinnegad in Co. Westmeath - creating 80 new jobs.
The 'Trading and Investing in a Smart Economy' plan will be officially launched by Brian Cowen later today and will be implemented by a new Foreign Trade Council.
It is being billed as the first integrated strategy aimed at promoting overseas trade, tourism and investment.