Business group Ibec has said the National Development Plan is an important next step in the delivery of an ambitious programme of world class public services and infrastructure development.
It said it is "imperative" that the programme achieves successful delivery in securing sustainable, inclusive, and resilient growth that can support better lives and better business.
Ibec Director of Lobbying and Influence, Fergal O'Brien said today's plan comes at a crucial time for the country.
"The coming years will be challenging for the Irish economy and society. But with the right choices, those challenges can provide us with the opportunity to reimagine a stronger, more sustainable, and ultimately more competitive Ireland," Mr O'Brien said.
He said that Ibec had consistently called for a robust public capital investment programme which reflects the demands of the economy.
"The NDP must reflect the increased ambition on climate change, backing it with the necessary investment while it is imperative that housing is treated as strategic infrastructure to maintain the strongest commitment to delivering the housing targets set out," he said.
He also said he welcomed the fact that the NDP is supporting enhanced connectivity and accessibility across the regions, including the completion of the road network, as well as digitally through the roll-out of high-speed broadband and next generation telecommunication infrastructure.
Welcoming today's NDP, Chambers Ireland said it acknowledges the need for the Government to catch up on the lost decade of investment over the 2010s.
Chambers Ireland said that in the medium to long-term, it believes that investment in infrastructure is the most effective way to achieve growth in the economy and will be key to developing the economy sustainably.
Ian Talbot, Chambers Ireland chief executive, said the Government's commitment to the capital investment programme is essential to the county's economic revival in the wake of Covid and Brexit shocks and will be critical to making society resilient in the face of future challenges.
"As part of these efforts, Government must look towards activating our cities and towns as the sources of growth for Ireland," Ian Talbot said.
"Investment in urban areas must be prioritised to unlock their enormous potential. Through this, communities will be revitalised, economic growth will become more inclusive, and resilience will develop," he said.
Mr Talbot said that long delayed infrastructure projects, particularly those involving renewable energy generation, transmission networks and mass transport options need to see rapid progress.
"The 300,000 homes that are to be delivered before 2030 will need to be built around sustainable modes of transport, or else we they will be locking in another century of unnecessary emissions," he added.
He also said that the delivery of sustainable transport will be fundamental as the country embarks on a crucial decade in climate efforts.
But he said that unless government creates green travel options, behaviour will not change.
"Ireland has an unparalleled opportunity to benefit from the ongoing revolution in the renewable energy revolution. Offshore energy has the potential to transform our country into a net energy exporter, help secure Europe's energy supply, and reduce our dependency on fossil fuels," he stated.
Irish Home Builders Association welcomes new funds for Irish Water in NDP
Commenting on today's NDP, the Irish Home Builders Association recognises the ambitions contained within the plan which sets out a year-on-year increase in investment in infrastructure.
IHBA's director James Benson said the association was especially pleased to see the allocation of €1.2 billion for Irish Water a year over the next four years.
Mr Benson said the lack of investment in water infrastructure over the past 10 years has left home builders and Irish Water with problems that led to delays in connecting new homes.
"In order to deliver badly needed homes, we need to see positive, targeted measures which will enable supply while also tackling impediments to delivery on the ground like water infrastructure," he stated.
