22nd August 2020
The Reports cover 16 key sectors within the economy and provide initial indications of the impact of COVID-19 on these sectors
The reports, entitled Focus on Sectors 2020 and developed by the Department of Business, Enterprise and Innovation, cover a range of areas including construction and retail.
Speaking today, Minister for Further and Higher Education, Research, Simon Harris said:
"Covid-19 continues to wreak havoc on society and the economy. The full extent of the impact of the pandemic on global and national economies continues to unfold and it is still too early to fully assess the medium- to long-term implications of COVID-19.
"These reports give us an insight into the issues being faced by different sections of society. The Government’s wide-ranging suite of supports totalling almost €20 billion will be of most assistance to the most heavily impacted sectors and support businesses in those sectors to resume activity while operating under the constraints demanded by public health requirements.
"My Department also has a role in helping businesses to adapt to the changing market, to help people retrain and upskill in areas of critical need. The July stimulus was the first step in assisting people but we will continue to help businesses grow and become sustainable in this Covid world."
Speaking about the reports the Minister for Business, Employment and Retail, Damien English said:
“We are committed to do everything we can to support businesses and help maintain and create employment opportunities as we continue to navigate through this difficult period presented by Covid-19.
“Focus on Sectors 2020 provides a useful understanding into the challenges and opportunities facing sectors at this juncture as the Government looks towards the recovery phase and continues to support sectors to rebound from the Covid shock.
“The impact of Covid-19 on the economy has been severe and some sectors have been more disproportionately affected than others. Tourism and hospitality sectors, aviation, and elements of the audiovisual sector remain in serious difficulty.
“For other sectors, the pandemic may present opportunities, like in the life sciences area, where the July Jobs Stimulus provided for a €25 million investment to exploit emerging opportunities with potential for some high value projects with significant economic benefits.
“However, the full extent of sectoral impacts is yet to play out and as such these Sectoral Reports present a snapshot at a point in time and against a backdrop of considerable uncertainty.”
Notes for Editors
The Department of Business, Enterprise and Innovation has developed a series of reports on 16 important sectors within the Irish economy entitled Focus on Sectors 2020.
The reports provide some initial indications of the impact of COVID-19 on these sectors.
The Department of Business, Enterprise and Innovation, in conjunction with other Departments and State Bodies, regularly monitors key sectors to anticipate needs and realise emerging opportunities. As part of this work, the Department has developed Focus on Sectors 2020, a series of sectoral reports that present concise overviews of 16 key sectors of the economy, encompassing both exporting and locally trading activities, and outline some initial indications of the impact of COVID-19 on these sectors.
The sectors covered include:
- Aerospace & Aviation
- Agri-Food & Beverages
- Audiovisual
- Biopharmachem
- Construction
- Energy, Sustainability & Natural Resources
- Engineered Products & Sub-Supply
- Global Business Services & Business Process Outsourcing
- International Education Services
- International Financial Services & Fintech
- Marine & Maritime
- Medical Technologies
- Retail
- Technology
- Tourism & Hospitality
- Transport & Logistics
Each individual sectoral report sets out:
- a description of the sector;
- an overview of each sector prior to the onset of COVID-19; and
- an indication of ongoing issues, challenges and opportunities that sectors are encountering as a result of the pandemic.
The Government’s wide-ranging suite of supports totalling almost €20 billion will be of most assistance to the most heavily impacted sectors and support businesses in those sectors to resume activity while operating under the constraints demanded by public health requirements.
The sectoral reports are available to view at Focus on Sectors 2020
ENDS
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