Seán Haughey (Dublin North Central, Fianna Fail)

Our economy has been transformed. The change has not been centred just in the foreign direct investment sector, it has spread throughout the economy such that local companies now have the capacity and financial muscle to be foreign investors in their own right. The stock of outward direct investment from Irish firms grew by almost 325% between 2000 and 2005 or from $28 billion to $118 billion. We are deeply interconnected and entangled with the global economy.

These changes are beginning to make a real impact on the nature of economic activity and employment in the economy. As we earn the dividend in terms of growing employment and greater prosperity, throughout the world others now look to Ireland as one of the best examples of sound economic management and creative solutions to the challenges of modernisation. I do not believe there is one Member in this House who has not, while abroad, experienced being congratulated by strangers and acquaintances on our economic success.

See this speech in context