10. Deputy John Clendennen asked the Minister for Enterprise, Tourism and Employment for an update on the current review of the Memorandum of Understanding between the IDA and Enterprise Ireland which is currently being undertaken by the agencies; and how this review might influence how these two agencies collaborate going forward. [66802/26]

My Department works closely with IDA Ireland and Enterprise Ireland, to promote foreign direct investment and to grow Ireland’s Irish owned exporting sector.  Strengthening linkages between foreign and Irish-owned firms and helping Irish firms to access the supply chains of Ireland’s FDI base is central to optimising synergies and spillover benefits in Ireland’s enterprise base.

At the end of August, I instructed the Chief Executives of both Enterprise Ireland and IDA Ireland to review, over a six-week period, the Memorandum of Understanding between the agencies, and to identify opportunities to strengthen and enhance the MoU to support greater collaboration and cooperation and information sharing across a number of areas.

These include enhanced cooperation on trade and investment missions, including shared market intelligence, coordinated scheduling, and shared use of overseas office networks.

I have also instructed that thought be given to formal structures and mechanisms for collaboration and information sharing from a project level up to joint Board and Executive meetings as well as a single point of contact or liaison function within each agency.

I would also like to see Enterprise Ireland involvement in inward investment opportunities from the earliest practicable stage to ensure that opportunities for Irish enterprises are identified as early as possible.

Finally, in light of the forthcoming launch of the Government's Startup Ireland initiative and Startup Hub, I would like to ensure that Enterprise Ireland and IDA Ireland promote collaboration between Irish start-ups, scaling companies and the FDI base and leverage the Startup Hub as a focal point for engagement to support the retention and growth of high-value activity in Ireland.

I am also interested in agency involvement with my Department on areas such as horizon scanning and foresight, and further collaboration between EI and IDA in the context of industrial and commercial property development particularly in the context of strengthened shared ecosystems.

I am keen that the MoU should specify how progress against its commitments will be monitored and reported and that regular joint progress reports are submitted to my office.

This initiative builds on the existing cooperation framework between the agencies and is intended to further deepen collaboration in areas where Ireland's FDI pipeline and the indigenous enterprise base intersect, to the mutual benefit of both.

Both agencies have a strong track record of delivering individually and collaboratively, and I am confident that a further strengthened framework of cooperation will serve to improve outcomes for Irish based enterprise, and for Ireland's overall competitiveness as an investment location.

I am advised that IDA and EI colleagues are currently working together on the Memorandum of Understanding and have met a number of times to progress these matters. I look forward to engaging with the agencies further when this exercise has been completed.