In the Action Plan for Jobs 2012, my Department committed to "Put in place and promote attractive immigration arrangements to facilitate entrepreneurs from outside the EEA in establishing businesses in Ireland through the Immigrant Investor Programme and the Start-up Entrepreneur Programme".
I am happy to inform the Deputy that this target has been achieved. The Immigrant Investor Programme and the Start-up Entrepreneur Programme were approved by Government at the start of 2012 with applications being accepted from April last. During 2012 fourteen applications have been approved under both Programmes which represent a total investment in Ireland of over €10.4 million. This investment is projected to protect over 80 existing jobs and create 190 jobs in new enterprises over the next 3 years which underlines the job creation potential of the initiatives.
My Department has also committed to "Continue the process of immigration reform in support of the International Education Strategy " This work has continued during the year and there is ongoing engagement with the key stakeholders. A review of the effectiveness of the new student immigration regime implemented in 2011 is currently underway. This will be completed in the coming weeks when full year data from 2012 has been compiled and analysed.