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Foreign Direct Investment

Dáil Éireann Debate, Tuesday - 14 May 2019

Tuesday, 14 May 2019

Questions (253, 259)

Bernard Durkan

Question:

253. Deputy Bernard J. Durkan asked the Minister for Business, Enterprise and Innovation the degree to which the development programme of the IDA continues to develop to maximise advantages for job creation and economic competitiveness on international markets; and if she will make a statement on the matter. [20891/19]

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Bernard Durkan

Question:

259. Deputy Bernard J. Durkan asked the Minister for Business, Enterprise and Innovation the extent to which she continues to promote Ireland as an attractive location for foreign direct investment, with particular reference to the ability of the State to compete effectively with all other countries in the EU and outside in which the greatest competition is likely to come from; if particular advantages and disadvantages have been identified from an Irish perspective; and if she will make a statement on the matter. [20897/19]

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Written answers

I propose to take Questions Nos. 253 and 259 together.

Retaining and strengthening Ireland’s reputation as a first-class destination for foreign direct investment (FDI) remains fundamentally important to our economic model. That is why the Government and IDA Ireland work hard to promote the country abroad for FDI, particularly in the face of increasing international competition for high-value investment projects.

Ireland has a number of key strengths that continue to make us a highly attractive destination for FDI. These include our highly skilled workers, excellent education system and positive demographics. Our membership of the EU and Eurozone, pro-enterprise policy environment, and competitive corporation tax regime are other significant selling points. These strengths help the IDA provide a strong case to investors considering investing in Ireland. They also help to explain our strong national performance in terms of FDI-driven investment and job creation, with over 230,000 people now employed here by IDA client firms.

The Government is equally conscious of the areas in which we need to improve in terms of attracting FDI. This includes increasing the availability of certain labour market skills, investing further in infrastructure and enhancing our economy’s overall competitiveness. Work is ongoing in those areas to ensure that our economy continues to attract job-rich investment from overseas firms.

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