Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Joint Oireachtas Committee on Foreign Affairs and Trade

Developing Growth Markets: IDA Ireland

10:00 am

Ms Eileen Sharpe:

These are big questions and one could almost take the issues of corruption and human rights together. We are very aware of the issues and concerns around them in some of these very complex markets. We work very closely with our ambassadors and the Department of Foreign Affairs and Trade. All issues related to corruption and human rights are handled at a political level. We are a business development agency and concentrate our efforts and are very focused on identifying credible, legitimate and sound businesses that are capable of globalising so that we can land them for Ireland. In terms of ensuing we target appropriately and in relation to the corruption issue, we go through very rigorous processes to ensure that the companies with which we work are compliant and will work well in Ireland. That rigour involves internal and external assessments and the development of a business case. A business case must be approved at a number of levels of committee before it is presented to the IDA board for approval. As such, there is a very rigorous process to be gone through before a company becomes an IDA client.