ByrneWallace inaugural Business Forum challenges Business Leaders to make brave decisions now to maintain long-term relevance

Business Forum looks at role of the business community in delivering the Government’s ambitious Project Ireland 2040 

ByrneWallace, one of Ireland’s largest law firms, hosted 600 business leaders at its inaugural Business Forum at the Mansion House on Tuesday night. The Business Forum explored the opportunities and challenges that the Government’s ambitious Project Ireland 2040 plan presents to the business community. 

At the event, An Taoiseach, Leo Varadkar TD outlined the objectives behind Project 2040, and how public-private sector collaboration will play a role in driving investment and growth in the economy and help to achieve equality across all parts of society. 

Addressing the audience An Taoiseach said: “Project Ireland 2040 is the Governments plan for the country for the next twenty years, underpinned by a ten year €116 billion investment package. Our population is going to grow by one million people between now and 2040, so it is essential that we plan ahead for where they are going to live, work and study, while also ensuring we’ve the public transport infrastructure to allow everyone to get around. This will help to boost our sense of well-being and our quality of life, while also ensuring that Ireland is a country that continues to prosper and attract investment. It’s encouraging to see so many from the business community here this evening taking an interest in how they can prepare themselves for the future.”

Following the Taoiseach’s keynote address, a panel discussion with leaders from the banking, retail, technology and legal sectors took place to explore how they are planning for 2040. Speakers included Catherine Guy, Managing Partner, ByrneWallace; Bernard Byrne, Chief Executive Officer, AIB; Cathriona Hallahan, Managing Director, Microsoft Ireland; John Paul (JP) Scally, Managing Director, Lidl Ireland and Martin Shanahan, CEO, IDA. 

Addressing the audience, Catherine Guy, Managing Partner, ByrneWallace said: “Businesses need to make decisions that will ensure they remain relevant and sustainable for the long term. While 2040 might seem far away, from a regulatory, infrastructure, skills and technology perspective, investments need to be made now that will support long-term strategic goals. With the level of change and disruption that all sectors are experiencing, business leaders now need to take a longer-term view to drive continued success.”

Cathriona Hallahan, Managing Director, Microsoft Ireland talked about the skills the country will need to be successful in 2040. “Project Ireland 2040 is an ambitious plan and I welcome the fact that the Government is looking so far ahead and setting out a vision for the Ireland we want to become.  Technology is changing the pace of change and while nobody can really predict what technology will be enabling us to do by 2040, we know today that no matter what career you’re in digital skills are key. So, my one piece of advice is not to ignore what’s happening around you. Make sure you’re upskilling your employees and the digital capabilities of your business to ensure you become a disruptor into the future and don’t risk being disrupted.”

John Paul Scally, Managing Director, Lidl Ireland said: “We’re excited about the investment plans set out in Project Ireland 2040. With a million more customers expected in the country by 2040, Lidl will be continuing to find ways to improve services for customers and efficiencies between stores. One thing we’ve been proud to deliver in Ireland is helping to reduce the cost of food and make shopping more affordable for people. This will remain our mission as we build towards 2040. Another key challenge for us will be to increase transparency and sustainability within our supply chain by engaging with our 200 plus local suppliers. Food waste is a global challenge with 1 in 3 calories wasted, as a food retailer this is something we will further focus our efforts on in the coming years." 

Bernard Byrne, Chief Executive of AIB said: “It's great that we are all gathered to have a discussion about the long-term plan for the country. Unlike a number of European countries, Ireland continues to offer the opportunity for growth and with a million new consumers expected by 2040 that continued growth is positive and welcomed by the business community. The ambition of the plan to spend over 100 million in the context of a framework is very important. It shows that the Government are positive about growth projections and this enables businesses to be positive and invest knowing that those extra consumers will be there in the coming years."