Taoiseach Launches Plan to Double Ireland’s Ocean Wealth

The Taoiseach Enda Kenny, TD, recently launched a Government plan to double the value of Ireland’s ocean wealth to 2.4% of GDP by 2030 and increase the turnover from our ocean economy to exceed €6.4bn by 2020. The report,Harnessing Our Ocean Wealth – An Integrated Marine Plan for Ireland’ was launched at the Marine Institute, Galway.

The plan presents a roadmap for the Government’s vision to tap into a €1,200 billion global market for seafood, tourism, oil and gas, renewable ocean energy and new applications for health, medicine and technology. It sets out three high-level goals to achieve a thriving maritime economy, healthy ecosystems, and to increase our engagement with the sea.

The Taoiseach said “This plan is a dynamic one and will ensure that our vision remains constant – to dramatically improve our ability as a nation and people to harness our ocean wealth. The Government is determined that it will be a key component of our economic recovery and sustainable growth generating social, economic and cultural benefits for all”.

The plan focuses on the State creating the right conditions to promote investment and enable growth. Good governance and maritime safety, security and surveillance of our ocean wealth are key to achieving the targets. The provision of a robust planning and licensing framework, underpinned by robust legislation and regulation can support sustainable development and create a degree of certainty, as well as a safe and stable environment for business and consumers.

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