Oireachtas Joint and Select Committees

Thursday, 23 November 2023

Joint Oireachtas Committee on the Implementation of the Good Friday Agreement

All-Ireland Economy: Discussion

Photo of Peadar TóibínPeadar Tóibín (Meath West, Aontú) | Oireachtas source

From my perspective, FDI is typically considered as an interim economic policy. Ideally, countries normally use FDI to get to a certain stage of development, and then start to develop their own indigenous economy, which is obviously far stickier, less mobile and more stable. Obviously, that is the route the economy in the South needs to go on. It is surprising in a way that the North has not experienced the same level of positive FDI in recent times. One of the barriers to that is human capital.

Are there others? What is the solution to the human capital, let us say, problem there? Is it simply that the education system needs to be ramped up to provide a larger number of people with the skills necessary to attract foreign direct investment? Is the infrastructure strong enough? It is a key element in attracting investment and productivity. What material steps could an Executive in the North take to improve key elements of the economy so it can be brought up to a higher level of FDI?

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