Dáil Éireann debate -
Tuesday, 30 Jun 1998

Vol. 493 No. 3

Written Answers. - Capital Investment Policy.

John Gormley

Question:

84 Mr. Gormley asked the Tánaiste and Minister for Enterprise, Trade and Employment the ethical criteria or principles, if any, that attach to the State's capital investment policy such as offering capital assistance to multinational corporations proposing to establish manufacturing or service providing operations in Ireland through agencies like IDA Ireland; the measures, if any, under consideration to develop policy in this area, particularly in view of recent reports detailing the extent of Ireland's contribution to the world wide armaments industry; and if she will make a statement on the matter. [15861/98]

Tánaiste and Minister for Enterprise, Trade and Employment (Ms Harney)

Foreign direct investment has made a significant contribution to the development and modernisation of the Irish economy and much of our recent high growth has been driven by exports from the foreign-owned sector. Foreign-owned firms have had a positive impact on the development of indigenous companies through the purchase of goods and services. They have also had a role in the upgrading of Ireland's infrastructure and skills base. In manufacturing and internationally traded services more people are now employed by overseas-owned companies than in Irish companies. I wish to assure the Deputy that proposals to establish enterprises based on the production of armaments in Ireland will not be considered by the IDA, regardless of economic benefits. There are no proposals to change this policy.