AN ANNUAL REPORT from the European Commission has placed Ireland in the top tier of countries for industrial competitiveness.

This puts Ireland alongside the Netherlands, Germany and Denmark in a grouping of countries that are described as having “high and improving competitiveness”.

The report divided EU member states into four groups in relation to current competitiveness and potential for improvement.

Commenting about the news today Minister for Jobs, Enterprise and Innovation Richard Bruton TD said:

This report is the latest in a series which show a strong performance by Ireland in international competitiveness. This makes it easier for me, my Department and our agencies to go into boardrooms and convince companies and Governments to buy our goods and services or locate jobs in Ireland.

The report saw Ireland placed ahead of the United Kingdom, Sweden, Spain and Luxembourg.

Countries deemed to “modest and stagnating or declining competitiveness” were Slovenia, Bulgaria, Croatia, Malta and Cyprus.

The report today also stated that EU member states need to focus making improvements in certain policy areas.

These included making bank credit available to small and young firms, providing support to internationalise SMEs and offsetting energy costs against energy efficiency improvements.

This latest report comes after a raft of recent news supporting Ireland’s strength as a nation in which to do business. A report by the World Economic Forum on global competitiveness last week placed Ireland at 25th in the world, a rise of three places from the year before.

Late last year Ireland was placed first in a Best Countries for Business list by Forbes.

Minister for European Affairs and Data Protection Dara Murphy TD today welcomed the news.

The Government has made this goal our overarching objective since taking office and this report serves to highlight that the strategies we have been implementing are achieving results.

Read: Here’s how Michael Noonan wants to end ‘boom and bust’ economics

Also: The retail sector is delighted that more part-time jobs are becoming full-time

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