CEO Update: Unpredictability takes centre stage at Davos

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Dear member,

The global gathering at Davos this week provided plenty of headlines. Thankfully, the initial fears of escalating trade tensions appear to have subsided for now, however, it is clear that much of the global uncertainty that defined 2025 is set to continue. Ibec will be hosting a number of key engagements in Brussels as part of our EU Presidency campaign, as well as in the US in the coming months. There, we will play our role as a constructive voice for the values of open and free trade that have long been at the heart of the transatlantic economy.

As you may be aware, these values of openness underpin a campaign we launched before Christmas. Ibec’s "Open for Business" campaign highlights the importance of an inclusive society for long-term prosperity. Ibec’s Courageous Leadership podcast series, which launched yesterday with an interview with businessman Denis O’Brien, features leaders discussing the challenges of protecting Ireland's reputation as an open and inclusive nation. I would also encourage you to read a recent opinion piece on this topic written by Ibec’s Head of Education and Social Policy, Kara McGann in the Irish Examiner.

An important dimension of the Open for Business campaign relates to our ability to attract and retain international talent, ensuring Ireland remains a destination where people want to grow their careers. A skills report published by Ibec this week, surveying over 280 HR leaders and CEOs, shows that 82% of firms are reporting significant skills gaps that are actively undermining productivity, innovation, and competitiveness. According to the report, the mismatch between available talent and the needs of a modern economy has moved from a marginal concern to a major strategic threat, particularly regarding digital and AI skills with competition for talent expected to increase over the next five years.

We continue to advocate for the Government to strategically unlock the National Training Fund (NTF). The persistent accumulation of a significant surplus- estimated to reach €3 billion by 2030 even after planned drawdowns- signals a clear underutilization of resources dedicated to workforce development. Greater investment in proven upskilling programs, such as Skillnet business networks, Springboard+, and micro-qualifications, will ensure our workforce is prepared for the significant change happening in our workforce.

With 2026 well underway, the Ibec team looks forward to working with and supporting your business. We have an extensive schedule of events planned and hope to see many of you there.

Our 2026 Events calendar can be viewed below.

Regards,

Danny McCoy

CEO

Ibec