Martin: World markets key to Irish construction
The Minister for Enterprise, Trade and Employment Micheál Martin has said that world markets are key to sustained growth in the future for Irish construction firms.
Mr Martin added that the London Olympics 2012 represent a significant opportunity in this regard, with an estimated spend of £9bn (€12.7bn) on construction expected to be made in the run-up to the event.
Mr Martin was speaking at a major Enterprise Ireland conference in Dublin today on the opportunities being generated by preparation for the London Olympics.
The special conference, “Building Towards London” was attended by 160 Irish companies and addresses the opportunities being generated in preparing for the 2012 games and how Irish companies might maximise their involvement.
Mr Martin said: "Irish construction companies - builders and suppliers - have been at the forefront of the economic boom in Ireland and contributed significantly to the emergence of the Irish economy. The sector has done extremely well in growing turnover by as much as five times over the past decade.
"Sustained growth of the sector in the future, however, will depend on these companies increasing their share in world markets.
"Britain is the principal overseas market for the majority of Irish-owned construction product and services companies, accounting for over 47% of construction exports in 2006. Pursuing the substantial opportunities that are available in the UK at the moment can provide the perfect launch pad for Irish construction firms looking to expand their geographic spread."
