EU competition - Hi-tech industry must shape up

The importance of the hi-tech industry to employment and the economy in this country is immense, but too heavy a reliance on it could prove detrimental to both, unless it is geared up for greater competition from the new EU member states.

Although not a doomsday warning, a EU survey points out that Ireland’s economic dependence on the hi-tech industry will face serious competition from the new members next year.

The fact is that 30% of workers in manufacturing are involved in the IT, electronic and pharmaceutical sector, which is twice the EU average.