Oireachtas Joint and Select Committees
Wednesday, 10 April 2024
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Illegal Israeli Settlements Divestment Bill 2023: Discussion (Resumed)
Mr. John Hughes:
I thank the Deputy. As it stated, the IDA does not support companies linked with the occupied territories, as we identified in the opening statement. How it does that is by ensuring that prospective companies seeking to locate in Ireland are screened from an early stage of the engagement process between the IDA, its executive team and the prospective clients. It also conducts research through independent sources and various beneficial ownership subscriptions it would have in terms of the ownership arrangements for prospective FDI companies. The companies are also directly expected to provide the IDA with relevant background information in terms of their location and ownership structures. To date, the IDA's activities in Israel have been focused on major urban areas and clusters of industrial activity. The seven or eight companies Israeli-owned companies that are operating in Ireland as IDA client companies are in web design, software, ICT, machinery and medicines.
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