Thursday, 9 May 2019

Ceisteanna (78)

Maurice Quinlivan

Ceist:

78. Deputy Maurice Quinlivan asked the Minister for Business, Enterprise and Innovation the number of companies supported by IDA Ireland by country of origin in tabular form; her views on whether there is an over-reliance on one country in particular; if so, the measures she is taking to reduce this over-reliance; and if she will make a statement on the matter. [20165/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Business)

Ireland remains a global leader in attracting foreign direct investment (FDI) with over 1,400 multinational companies from over 40 countries choosing to invest here. While North America remains the principal source of FDI into the country, the IDA continues to diversify its portfolio of investors here. In 2018 alone, for example, 24 investments were secured from growth markets, representing an increase of 14% on 2017.

I am particularly encouraged by the progress made by IDA Ireland in attracting first-time investors from Asian markets. Last year, for example, saw notable investments from Chinese, Indian and South Korean firms. This shows that the concerted effort that the IDA has made to target Asian investors is now producing results in terms of new jobs here on the ground in Ireland.

While much has been accomplished in this context, the Government remains conscious of our need to continue attracting FDI from as many different countries as possible. To diversify investment here further, we need to build awareness of Ireland as a preferred investment destination in target countries, as well as improve competitiveness and consolidate Ireland’s traditional strengths in terms of talent, productivity and ease of doing business. I am confident that this approach will help boost further the number of investors here from non-traditional markets and that we will continue to see greater geographic diversity across the IDA's client portfolio. The Agency's efforts in this context are already being reinforced and supported by the Global Ireland strategy, which will build and deepen Ireland's footprint all over the world in the period up to 2025.

While we will continue to focus on strengthening FDI from growth markets, we must also not neglect the importance of our traditional source markets. Ireland's strong track record with companies from those markets - which employ tens of thousands of people across the country - has been hard-won and is the product of decades of hard work. That is why the IDA will continue to do everything possible to sustain and grow investment levels from North America and Europe while also seeking to increase investment from growth markets.

The table below details the number of IDA-supported companies by country of origin.

Country of Origin

Number of companies

Australia

23

Austria

1

Belgium

16

Bermuda

13

Brazil

1

British Virgin Islands

1

Canada

39

Cayman Islands

7

China

28

Cyprus

1

Czech Republic

1

Denmark

7

Finland

5

France

63

Germany

99

Greece

2

Hong Kong

2

India (including Sikkim)

25

Ireland

2

Israel

3

Italy

29

Japan

33

Jersey

1

Liechtenstein

2

Luxembourg

8

Malaysia

1

Mexico

1

Monaco

1

Netherlands

33

Nigeria

1

Norway

5

Portugal

3

Russia

11

Singapore

10

Slovenia

1

South Africa

6

South Korea

4

Spain

6

Sri Lanka

1

Sweden

12

Switzerland

41

Taiwan (Province of China)

1

Turkey

4

United Arab Emirates (including Abu Dhabi)

1

United Kingdom

120

United States of America (including Puerto Rico)

766

Uruguay

1

Vietnam

1

Grand Total

1,444