Oireachtas Joint and Select Committees

Wednesday, 26 January 2022

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Strategy, Targets, Achievements and Future Progress: IDA Ireland

Mr. Martin Shanahan:

I thank the Deputy. There is merit to the France 2030 plan. It is a plan, though, that suits France, I suppose. Investment in the economy is welcome, and especially investment in infrastructure that will make it easier for businesses, domestic and FDI, to operate in the economy. Ireland's industrial policy is, essentially, centred around three strands: attracting FDI; growing indigenous enterprises and helping them to scale; and investing in research, development and innovation to help the other two strands. Those three strands are complementary, as I see it, because once we attract FDI, then there are significant spill-over effects into the indigenous economy. Part of our current strategy is to help solidify and to grow those impacts. Those impacts grow in many ways, including through the spending of FDI companies on Irish materials and services and through the transfer of people and know-how.

It is a hugely competitive international environment. All countries, not just France, are investing heavily in their infrastructure and in other aspects of their industrial policies to continue to ensure they are fit for purpose to allow them to compete in the international market. I see it at first hand every day as we are out with investors. There is merit in looking at whatever is being done to see if there are lessons we can learn.

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