Enterprise, Trade and Employment | To ask the Tánaiste and Minister for Enterprise; Trade and Employment the extent to which foreign direct investment continues to be a stable feature of our economy
To ask the Tánaiste and Minister for Enterprise; Trade and Employment the extent to which foreign direct investment continues to be a stable feature of our economy; and if he will make a statement on the matter.
Retaining and strengthening Ireland’s reputation as a destination of choice for foreign direct investment remains fundamentally important to our economic model. Efforts in this area are guided by IDA Ireland’s Strategy, Driving Recovery & Sustainable Growth, which is framed through five interlinked pillars – Growth, Regions, Transformation, Sustainability, and Impact.
Though competition is intense, with countries around the world actively vying for new FDI investments, IDA Ireland has tailored its approach to reflect this increased competition, continuously refining its offering to ensure that Ireland offers the most competitive, innovative, and relevant elements that targeted investments seek. This focus on the sectors that underpin a modern economy is key to our success.
IDA Ireland continues to emphasise the core elements of Ireland’s value proposition for foreign direct investment, which includes our pro-enterprise policy environment, our highly educated and English-speaking workforce, and our membership of the European Union. Taken together, these factors all combine to mark Ireland as a stable and reliable location for investment.
Investors’ confidence in Ireland remains strong, as evidenced by the flow of investment projects over recent months and years. 2021 was a record year for FDI in Ireland. IDA Ireland won 249 investments, increasing Ireland’s market share of investment into Europe in the face of global declines in FDI. The number of people directly employed in MNCs in Ireland grew to over 275,000, with over 29,000 new jobs being created by the sector in 2021.
My Department, with the support of IDA Ireland, will continue to build on Ireland’s 70-plus year track record of attracting and maintaining FDI by strengthening our value proposition to ensure that FDI continues to be a stable feature of our economy.
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