asked the Minister for Industry, Trade, Commerce and Tourism if there is a change of Government policy with regard to attracting multinational investment in the manufacturing sector in this country; and if he will make a statement on the matter.
Written Answers. - Multinational Investment.
35.
There has been no basic change in the Government's policy of seeking to attract multinational investment in the manufacturing sector in this country.
As stated in its White Paper on Industrial Policy, the Government are committed to developing a strong and internationally competitive industrial sector made up of both Irish and foreign-owned industry. The attraction of overseas investment will remain an important element of this policy over the coming decade.
The importance of foreign investment to this country is well illustrated by the fact that overseas industries now employ more than 80,000 Irish people and contribute £2,000 million annually to the Irish economy, including £500 million on raw materials and £500 million on Irish services. The Government will seek to secure even greater national benefit from foreign investment in the future by concentrating resources on securing projects with the following characteristics:
(a) stand alone projects which can survive without significant reliance on the parent company,
(b) projects which form a significant market for potential sub-supply linkages,
(c) projects with a real commitment to skilled employment, and
(d) projects which can substitute for imports where there is no possibility for Irish firms to enter the business.