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Foreign Direct Investment

Dáil Éireann Debate, Wednesday - 15 June 2016

Wednesday, 15 June 2016

Questions (48)

Bernard Durkan

Question:

48. Deputy Bernard J. Durkan asked the Minister for Jobs, Enterprise and Innovation if she expects this economy to compete effectively for foreign direct investment in the next five years; if this jurisdiction is an attractive location for such investment; if she has identified any potential challenge; and if she will make a statement on the matter. [15824/16]

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Written answers

IDA Ireland is working hard to meet ambitious targets set out in its five-year strategy, Winning: Foreign Direct Investment 2015-2019, that was launched in February last year. The strategy’s goals include, among others, the creation of 80,000 jobs, 900 new investments, and securing an additional €3 billion of commitments for new R&D projects in the country.

To achieve these targets, in a period of ever-increasing global competition for foreign direct investment (FDI), Ireland will need to continue to attract new foreign investors. I am confident, however, that we are strongly positioned to do that. That is because the country remains attractive to foreign investors on account of our talented and highly-educated workforce, our membership of the EU and the Eurozone and our business-friendly environment. We also have an established track record when it comes to FDI, with over 1,200 overseas companies already based in Ireland. These are all key factors when it comes to helping to convince companies to invest here.

The Government is equally conscious of the need for Ireland to remain as competitive as possible when it comes to winning FDI. This means sustaining and improving our internationally recognised pro-enterprise policy environment, as well as investing further in education so that the skills of our workforce best match the needs of 21st century companies.

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