Ceisteanna—Questions. Oral Answers. - Equity Capital Investment.

72.

asked the Minister for Industry and Commerce whether he will undertake to arrange in the case of foreign industry starting up in Ireland under IDA auspices that their equity capital or a proportion will be placed on the Irish market and so facilitate Irish nationals who wish to invest in the operations of such companies here.

In suitable cases when foreign interests are setting up industries in this country under IDA auspices, they will be encouraged to offer Irish investors an opportunity to subscribe to their equity capital. I do not consider that at this stage of our industrial development it would be advisable to make it mandatory on them to do this.

The Industrial Development Bill contains provision that would enable the IDA to purchase shares in industrial undertakings that conform to the requirements for State grants.