Firms told to refocus on exports

IRELAND has no future in low-cost manufacturing and cash-strapped companies should focus their business efforts on exports and trade with new world economies, the head of Enterprise Ireland has said.

Businesses were still finding it difficult to access credit from banks, an Oireachtas committee was told.

However, a new generation of Irish companies with international links involved in the smart economy were making healthy profits, Enterprise Ireland chief executive Frank Ryan said.