Dáil Éireann Debate, Tuesday - 28 March 2017
587. Deputy Michael McGrath asked the Minister for Jobs, Enterprise and Innovation her plans and those of the agencies under the aegis of her Department to respond to the new investment environment faced by US multinationals with a presence here under the new US Administration; her particular plans to respond to these new challenges to Ireland's successful inward investment strategy; and if she will make a statement on the matter. [15151/17]
View answerAmerican investment is very important to Ireland’s economic well-being. The US is the largest source of foreign direct investment (FDI) here, accounting for over 70% of the country’s total FDI. Approximately 680 US corporations employ 135,000 people directly in a broad range of sectors.
It is difficult to predict what policy changes may be introduced by the new US administration. I am confident, however, that US companies will still require a global presence and Ireland will continue to position itself as the number one location from which American firms can internationalise their business.
It is important to remember that US companies come to Europe and to Ireland for many reasons. The European market remains among the largest and richest in the world and US companies will still want to invest here to capture markets, access skills and access innovation.
IDA Ireland has a 67 year track record of winning foreign direct investment for the Irish people. Over that period, the world economy has evolved and changed shape many times, yet Ireland has always stayed relevant for investors. When the global investment climate changes again, we will adapt accordingly – as we have done in the past – and make sure that Ireland remains attractive to multinational and American businesses.
