Enterprise; Trade and Employment | Foreign Direct Investment employment report

To ask the Tánaiste and Minister for Enterprise; Trade and Employment the estimated total number of jobs believed to have accrued from foreign direct investment; and if he will make a statement on the matter.

REPLY

On Monday 12^th December, IDA Ireland reported strong annual results for 2022, recording a substantial increase in growth in foreign direct investment-linked employment on 2021. I am proud to say that numbers employed as a result of foreign direct investment are now at the highest ever level.

Employment growth in 2022 raised the number of people employed in the FDI sector in Ireland to over 300,000. IDA’s results show continued substantial growth in FDI in 2022 despite a difficult global economic environment.

The 2022 figures continue the pattern of sustained growth in FDI investment and FDI-related employment that has been achieved over a continuous period of more than ten-years.

However, at the announcement of the mid-year results in July, IDA pointed to serious global challenges and uncertainties. It is now evident that the global economy faces serious headwinds in 2023 with the outlook dependent on the Russian invasion of Ukraine, inflation, monetary policy and geo-political developments.

To ensure Ireland remains an attractive investment location and a great place to do business, the Irish Government will continue to work with IDA Ireland to strengthen Ireland’s FDI value proposition.