BPCI welcome deployment of €1.5bn National Training Fund surplus in Budget 2025
BioPharmaChem Ireland (BPCI), the Ibec group that represents the biopharmaceutical and chemical sectors, has strongly welcomed the announcement by Minister for Public Expenditure/Minister for Finance that a €1.5bn surplus in the National Training Fund is to be deployed to support universities, training and upskilling for workers.
However, the group warned that the failure by Government to signal its support for a Life Sciences Strategy for Ireland was a missed opportunity – describing the move as short sighted.
The biopharmaceutical and pharmaceutical sector in Ireland employs over 80,000 people directly and indirectly, across 90 companies. In its pre-Budget submission, BPCI called on the Government to address competitiveness challenges to further develop the sector’s global leadership position and enhance Ireland’s competitiveness.
Speaking in reaction to Budget 2025, Sinead Keogh, Director of BioPharmaChem Ireland said: “Ireland is a global hub for innovation and manufacturing excellence in biopharma and has benefited enormously from that status. This is clear in the number of people employed, the number of companies active, the level of research, development and innovation taking place here and, of course, the level of exports driven by the sector.
“The bedrock of this success is a highly skilled workforce, a strong research ecosystem, and Ireland’s manufacturing expertise. However, in the context of increased global competition for investment, there is no room for complacency. We strongly welcome the Government’s announcement in Budget 2025 that €1.5bn of funding is to be deployed from the National Training Fund to support universities, and training and upskilling for workers.”
“The biopharma sector is calling for an ambitious, holistic Life Sciences Strategy for Ireland. While the Budget was a missed opportunity for Government to signal support for this important initiative, which has broad backing from the industry, we will continue to make a strong case for this in the coming period.”
The biopharmaceutical and pharmaceutical sector in Ireland employs over 80,000 people directly and indirectly, across 90 companies. In its pre-Budget submission, BPCI called on the Government to address competitiveness challenges in order further develop the sector’s global leadership position and enhance Ireland’s competitiveness.
