Dáil Éireann debate -
Thursday, 28 May 1992

Vol. 420 No. 5

Written Answers. - Food Firms Foreign Investments.

Austin Deasy

Question:

116 Mr. Deasy asked the Minister for Agriculture and Food if he is concerned about the level of investment abroad by Irish food firms; if his attention has been drawn to the total sum of money and jobs involved; and if he will make a statement on the matter.

Minister for Agriculture and Food (Mr. Walsh)

I have no function in relation to specific investment decisions made by private companies.

Irish food companies have contributed strongly to the growth of the domestic economy over the last number of years. I expect that they will continue to do so and in the process will continue to secure jobs and make further contributions to the Irish economy.

Such companies are always searching for investment opportunities which will generate profits and which fir their growth strategies.

It would be all too easy for companies not to expand even where the opportunities lie abroad. Such investments help to secure jobs and profits in Ireland and often afford these companies increased market access, international experience and new technology. There is no evidence that I am aware of that such investments have been detrimental to the Irish economy.