Brendan Howlin (Wexford, Labour)
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Question 90: To ask the Minister for Enterprise, Trade and Employment if his attention has been drawn to the fact that the World Bank currently rates Ireland below 50th in the world for hiring and firing staff and for registering property and below 20th in the world for both ease of paying taxes and enforcing contracts; if his attention has been drawn to the fact that the only criterion under World Bank ease of doing business statistics in which Ireland rates in the top ten is that for closing a business; his plans to improve these ratings; his views on whether there are significant procedural and bureaucratic impediments for foreign investors trying to do business here; and if he will make a statement on the matter. [32039/06]

Micheál Martin (Cork South Central, Fianna Fail)
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The World Bank research entitled, 'Doing Business, Benchmarking Business Regulations' is one of several benchmarking reports by international organisations. The WEF, IMD, and the Global Entrepreneurship Monitor also benchmark our performance in many of these areas. These are useful tools for identifying broad trends nationally and internationally. I note the World Bank ranks Ireland tenth among 175 economies in terms of ease of doing business. In addition, the World Economic Forum data ranks us 4th in the OECD in terms of business regulation, a position we have sustained for several years.

The National Competitiveness Council's Annual Report, published on 10 October, shows that the level of business regulation is perceived as low in Ireland. Also, in terms of starting a business, there are a relatively low number of procedural requirements in Ireland. The NCC Report also notes that Irish labour market regulations are not perceived to have a significant impact on business activity.

The specific World Bank report index referred to by the Deputy appears to perceive the protection of employees such as statutory redundancy entitlements and unfair dismissals legislation as a 'negative'. However, in a broader view, such as that articulated by the National Economic and Social Council, social policy and economic prosperity are seen as complementary rather than mutually exclusive in a successful economy.

In terms of influence on investment, the figures speak for themselves. The NCC Report published yesterday records that Ireland continues to attract a large number of greenfield investments from abroad. When adjusted for population the number of greenfield projects is considerably higher in Ireland than the OECD average. Ireland ranks second only to Singapore in the benchmarked countries.