Oireachtas Joint and Select Committees

Wednesday, 1 June 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Use of Section 110 by Russian Firms: Dr. Jim Stewart

Photo of Mairead FarrellMairead Farrell (Galway West, Sinn Fein) | Oireachtas source

I thank Dr. Stewart. It is quite interesting to note the IMF in a 2019 paper found 60% of all FDI into Russia is made by empty brass-plate holding companies, which are the type of companies Dr. Stewart's own study examined. Do we have any idea what proportion of that 60% would be comprised of investment from the IFSC? As a broader point, and one very relevant to us, do FDI statistics need to be interpreted with greater calculation than they are usually treated in the media, for instance?

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