Statistics relating to foreign direct investment ( FDI) are reported on an annual basis and are published in the IDA's Annual Report. The number of FDI investments won for this country , together with the number of new jobs created in IDA client companies in each of the years 2009, 2010 and 2011 is set out on the tabular statement below.
When deciding on investment locations, Foreign Direct Investors look at the entire business environment in a country, for example: Competitiveness, Market access, Education and skills, Infrastructure, Political and regulatory environment and tax rates. On a global scale, Ireland scores extremely well in many of the key areas of importance to investors. In addition to political stability and a highly attractive corporate tax rate, Ireland has a young, well educated workforce, growing levels of R&D activity, a modern internationally trading enterprise base and a long track record as a successful location for overseas investment.
2011 saw a strong performance in the level of FDI won by Ireland. IDA Ireland client companies created over 13,000 new jobs despite the current global economic situation and a strong increase in international competition. In accordance with the Government's Action Plan for Jobs, IDA Ireland is working to target another 144 new FDI investment projects in 2012, which will create 12,500 new jobs with an associated 8,750 in the wider economy, giving a total impact of 21,250 this year. Up to the end of May 2012, there have been 44 IDA announcements with in excess of 5,000 jobs.
The National Competitiveness Council has pointed out that Ireland has become significantly more cost competitive since 2008. The World Economic Forum rankings showed Ireland's position holding steady last September (where we stayed at 29th out of 134 countries), with the IMD Work Competitiveness Yearbook released last week showing Ireland's headline position recovering back into the top 20 (up from 24th in 2011, out of 59 countries). We are now ranked:
1st for skilled labour and for flexibility and adaptability.
2nd for lack of protectionism and for foreign investors.
3rd for labour productivity and for exports of commercial services.
4th for real corporate taxes.
5th for inward investment flows.
10th for business efficiency, up 8 places from 2011.
The Taoiseach has set the ambition that by 2016 Ireland will be the best small country in the world in which to do business, and the Government has started to implement our plan to deliver on this. Through the Action Plan for Jobs, we are implementing a raft of changes to reduce costs to business, improve access to finance and encourage greater innovation and in the coming months I will be developing a list of areas in which Ireland's performance is lagging internationally and a plan to address this.
Many of the actions which we are pursuing through the "Action Plan for Jobs 2012" are aimed at improving Ireland's overall competitiveness — reducing costs and ensuring that the enterprise environment (regulation, infrastructure, availability of skills) are all supportive of those companies which can sustain and create jobs.
Table showing the number of investments won and new jobs created in IDA supported companies in each of the years 2009, 2010 and 2011
|
Year
|
Jobs Created
|
Number of Investments won
|
|
2009
|
3,568
|
125
|
|
2010
|
11,224
|
126
|
|
2011
|
13,068
|
148
|
