Joanna Tuffy (Dublin Mid West, Labour)
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Question 7: To ask the Tánaiste and Minister for Enterprise, Trade and Employment if she will make a statement on her recent visit to the United States; and the details of specific agreements concluded while she was there regarding investment or job creation here. [41755/08]

Mary Coughlan (Donegal South West, Fianna Fail)
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I visited the east coast and the mid-west of the United States from 1 to 7 November on a promotional programme, organised by IDA Ireland, which is the agency with statutory responsibility for the attraction of foreign direct investment to Ireland.

The objective of this visit was twofold. My first objective was to cement relationships with US companies that have a presence in Ireland and to explore with them, in conjunction with IDA Ireland, the potential for further investment here. My second objective was to meet a number of companies that have not yet invested here and from which the IDA are hoping to attract new investment for this country. The purpose of my meeting with these companies was to support the ongoing engagement by the IDA with them.

The programme involved meeting with chairmen, chief executive officers and other senior executives of leading companies in a broad range of sectors, including life sciences and information communications technology, ICT. The feedback from these meetings confirmed to me the high standing in which Ireland is viewed as a business location by leading global companies.

They are aware of, and impressed by, the high standards of performance that are achieved by Irish management and staff within foreign-owned companies that have operations here. The meetings also underlined to me the importance of the Government's commitment to strengthen research and education capabilities, while retaining the flexibility and responsiveness of our operating environment and low tax regime.

I am optimistic that new investments and jobs will follow in time, particularly given the positive views expressed to me about Ireland and the high standing in which Ireland is viewed as a business location by leading global companies.

Willie Penrose (Longford-Westmeath, Labour)
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I compliment the Minister on her mission to the United States. It is important that she should continue that role regarding foreign direct investment with IDA Ireland. Did the extreme importance of Ireland's young, vibrant, well-educated and highly-skilled workforce, its low tax regime and flexible policies come across during her mission? While I acknowledge such projects have long gestation periods, is the Minister hopeful in these difficult times as a result of her visit?

I was surprised by the study or survey that purported to reveal discontent among multinationals regarding Ireland's supposedly high costs and poor infrastructure despite the investment in infrastructure of a great deal of money in the past 15 years. Did this issue arise, was it bubbling below the surface or did anyone refer to it? I do not anticipate that anyone did so. How did the survey results that up to 60% of such multinationals were dissatisfied in one form or other surface? I was greatly surprised by the alleged contents of the survey, which I have not seen. I understand it was secret, although it appears to have entered the public domain. While I am not familiar with it, I read reports of it. Its contents surprised me greatly because our educated workforce, flexibility and motivation, the infrastructure Ireland provides for many firms that come here, together with its lower corporate tax rates constitute huge elements of attraction. Was anything bubbling beneath the surface that gave the Minister cause for concern or that she might be obliged to re-examine to ensure Ireland remains as competitive as it was?

Finian McGrath (Dublin North Central, Independent)
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While the Minister was in the United States, did the debate on our low-tax regime arise? What was the mood in the United States among politicians and business people?

With regard to global companies, the importance of US investment and other European countries, the Minister also should think beyond the box in respect of other countries as there is a bigger world out there. While the Minister was involved in respect of China, we also should be trying to attract investment from other countries.

Given the presence of low-cost labour in other countries, does the Minister have concerns for industries in Ireland that may be unable to compete on the international market and which could lose many jobs?

Mary Coughlan (Donegal South West, Fianna Fail)
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The access we received was superb. The views expressed by those who are in Ireland at present is that this is a good place in which to do business. Ireland is perceived to be pro-enterprise and has a flexible and talented workforce and this is the basis on which many people make decisions to come here. Ireland's investment in research and development is of great importance to them. Moreover, its centres for science, engineering and technology, interaction between industry and the commercialisation of intellectual property are highly important. Ireland needs to be at the high-value end, which is the type of product in which I was trying to invest and encourage into Ireland. We met a number of new, emerging types of businesses. As the Deputy noted, that will take some time in gestation. That said, our message is clear that Ireland still is a good place in which to do business.

On the issue of costs, some naturally have reflected on that issue, most particularly in the context of energy and, in some cases, labour costs. However, much of this was offset by our talent pool. In addition, the Government is cognisant of the input costs that cause difficulties to a number of companies and has new initiatives to consider and support this issue. Moreover, the reiteration in his Budget Statement by the Minister for Finance of Ireland's 12.5% corporation tax rate was greatly welcomed.

In the context of the changing political dynamic in the United States, much of which concerns fears that are not necessarily well-founded, the view that Ireland is in any way perceived as a tax haven was not present. Ireland's absence from the OECD's Richter scale in this regard is of great importance to us. Therefore, I continue to be of the view that Ireland will see further investment from our foreign direct investment community. This is not to suggest it will not be without its challenges, as I would be naive to say that.

As for travelling abroad, I visited Zurich last week, where I engaged in much networking with ICT businesses. Next week, I intend to travel with 60 companies to Dubai and Abu Dhabi to examine new opportunities for them. Members are aware the Taoiseach has travelled to China and I intend to go to Japan. Moreover, there will be further works carried out by my Ministers of State, including the Minister of State with responsibility for trade, who is on such a mission at present to attract and provide opportunities for foreign direct investment and to afford indigenous companies opportunities abroad.