Dáil debates

Thursday, 23 January 2014

Ceisteanna - Questions - Priority Questions

Foreign Direct Investment

9:30 am

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

IDA Ireland has approached this challenge in a strategic way. As the Deputy is aware, a target was set for 2014 and resources have been allocated in such a way as to ensure it will be met. The strategy is under review and we will be looking afresh at growth markets. Clearly, there is a need to balance resources against outcomes and look to the long term. On a man for man basis, the emerging markets would not deliver the same return as the United States. IDA Ireland still attracts the bulk of its investments from North America. However, as the Deputy observes, we must anticipate where the growth markets are. That has been the approach.

The Department is bound by the employment control framework. During my term as Minister we have protected IDA Ireland staff within it. In other words, all other areas of the Department have taken the hit in order to protect IDA Ireland. We are looking to the future in the context of developing a new strategy. The Deputy is correct in stating there will be a need to increase the resources allocated for the markets to which he refers. We will try to identify creative ways in which this might be achieved.

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