Oireachtas Joint and Select Committees

Thursday, 23 March 2023

Public Accounts Committee

2021 Financial Statements of Enterprise Ireland: Discussion

9:30 am

Photo of James O'ConnorJames O'Connor (Cork East, Fianna Fail)
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Before I move on, in terms of the risk factor of what Enterprise Ireland's current investments have been, is there any analysis being done by Enterprise Ireland, for example, on platform-based technology in the likes of major international conglomerates that were revenue generating but were not able to turn a significant profit and are now having a rude awakening, particularly by their lenders who are seeking to get their money back for their investments? In terms of that climate, where are the exposures there? Enterprise Ireland certainly has them. It is fair to say that it is probably common knowledge that there are investments that Enterprise Ireland made - it is seen by write-offs - and that failed, but is there a growing exposure there given the climate we are in now versus where we were two or three years ago? That is pretty much what I am trying to get to the bottom of with Mr. Clancy.