asked the Minister for Industry and Commerce (a) if he will make a statement on the Government's policy with regard to the investment of foreign capital in this country, and (b) whether any negotiations have taken place with other countries in regard to such investment.
Ceisteanna—Questions. Oral Answers. - Foreign Capital Investment.
I assume the Deputy has in mind recent publicity regarding efforts being made to attract foreign industrialists. Government policy in this regard is to encourage industrialists from other countries to establish or assist in establishing factories here for the production of goods not already produced here or which are being produced in insufficient quantity, and for the production of goods for export. On my instructions a brochure has been prepared by the Industrial Development Authority setting out the advantages which this country offers for the establishment of industries, and copies of this brochure have been circulated to members of the Oireachtas.
As already announced, arrangements have been made to send delegations to certain continental countries in the near future with the object of interesting industrialists in those countries in setting up factories here either on their own account or in association with local interests. It is hoped to send a similar delegation to the United States of America early next year. The authorities of the countries concerned have been made aware of what is proposed and are being kept informed regarding the arrangements for the visits of the delegations. The matter has also, on my instructions, been the subject of a discussion between the chairman of the Industrial Development Authority and the British Trade Commission in Dublin.