Ireland: focus on opportunity despite global uncertainty

From conflicts in the Middle East to tensions in Eastern Europe and the Indo-Pacific, businesses everywhere are facing challenges like disrupted supply chains and rising energy costs.

In our latest episode of The Geostrategic Edge we focus on both the bigger picture and what this means for Irish companies.

As per Simon Coveney, the U.S. is trying to limit its involvement in the Middle East after taking action against Iran's nuclear program. However, if Iran escalates tensions—like blocking key shipping routes—it could lead to major disruptions in global trade and energy prices, which would hit Ireland hard.

The war in Ukraine is another pressing issue as the conflict continues to shape how Europe approaches security and defence. For Ireland, this means staying engaged in discussions about trade and partnerships while also being credible in security matters.

Then there's China and Taiwan. Taiwan is a major player in the semiconductor market, and any conflict there could disrupt supply chains worldwide. While the U.S. supports Taiwan, China's ambitions add another layer of uncertainty.

Despite these challenges, Ireland's story isn't one of negativity. Coveney and host, Aidan Meagher, noted that while new investments might be slowing down, companies already in Ireland are ramping up their research and development efforts.

The Irish government is also focusing on improving infrastructure, essential for attracting talent and keeping businesses competitive.

Looking ahead, Ireland aims to build a clean, tech-driven economy. The government plans to invest heavily in infrastructure and renewable energy, which will support this vision.