Oireachtas Joint and Select Committees

Wednesday, 16 December 2020

Joint Oireachtas Committee on Transport, Tourism and Sport

Impact of Brexit on Haulage, Freight, the Ports and Ferry Companies: Discussion

Mr. Kieran O'Callaghan:

We would be delighted to do that. I do not think that today is the open discussion for that. The Senator touched on something important when he asked why foreign direct investment is coming to Ireland. I remember going to America in the late 1980s for business and reading a magazine about Fortune 500 companies. Some 70% of CEOs of Fortune 500 companies in the late 1970s or early 1980s were first or second generation Irish. Those CEOs left a legacy for foreign direct investment and it is why they all started coming to Ireland. The Fortune 500 at that time were mainly manufacturing companies. Not harnessing and protecting that would be crazy. IDA Ireland is doing a fantastic job. This year, we have had more foreign direct investment than any other country in the world.

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