Ireland falls in world competitiveness rankings

The world competitiveness report for 2007 shows Ireland has continued to fall and is in 14th position in the world rankings.

Patricia Callan, Director of the Small Firms Association, said: "The decline in foreign direct investment; inflation; infrastructural weaknesses; increased costs and the threat of relocation of business activities overseas (including production and R&D) and the level of regulation surrounding business have greatly impacted on Irish competitiveness during the last 12 months.