Wednesday, 19 June 2019

Questions (160)

Bernard Durkan

Question:

160. Deputy Bernard J. Durkan asked the Minister for Business, Enterprise and Innovation the extent to which she expects the island of Ireland in its entirety to remain an attractive location for foreign direct investment post-Brexit and into the future; and if she will make a statement on the matter. [25841/19]

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Written answers (Question to Business)

IDA Ireland continues to work closely with international clients, from a range of sectors, to mitigate the potential impact of Brexit and to capitalise on any opportunities for additional Brexit-related foreign direct investment (FDI) in the future. In doing so, the IDA has targeted both new-name investors and increased investment from companies already located here. This approach has contributed to record results in recent years and should lead to further investment and job creation in the years ahead.

The Agency has also restructured its global footprint in response to Brexit, with the UK now being treated as a distinct market. The IDA's staff are working hard as well to avail of new investment opportunities from non-traditional target markets. The Agency’s efforts in this context have already yielded positive results, with over 70 Brexit-related investments and 5,000 associated jobs won to date.

Our efforts to win more FDI will be helped, post-Brexit, by our continued status as an attractive destination for overseas firms. Ireland’s membership of the European Union ensures that companies considering an investment here will gain barrier-free access to the EU market. When taken together with other strengths - such as our pro-enterprise environment and our highly skilled dynamic workforce - I am confident that Ireland will continue to be an attractive destination for mobile overseas investment in the years ahead.