Jim O'Keeffe (Cork South West, Fine Gael)
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Question 152: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the figures for foreign direct investment here for each of the years from 2002 to 2009; the proposals she has to encourage such investment in 2010 and future years; and if she will make a statement on the matter. [4820/10]

Mary Coughlan (Donegal South West, Fianna Fail)
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In the period 2002 to 2009, there were a total of 916 foreign investments won by IDA for this country. The number of investments in each of those years is shown in the following tabular statement.

International investment will continue to be a key driver of employment, exports and growth. Ireland's corporate tax rate of 12.5%, our multilingual skilled workforce and our strategic location to serve markets in Europe has served us well in attracting investors and will continue to do so. Many multinational companies are restructuring their global operations, leading to global rationalisation, making it particularly important to work to retain current investment, stimulate expansion, and secure new projects. We are working to develop the opportunities for Ireland to become a key European hub for the international funds industry. In this regard, I look forward to the proposed changes in the Finance Bill to strengthen Ireland's competitive edge.

We will continue to market Ireland as a location of choice for the newcomer and for existing investors. In September, I launched the IDA's new innovation focused overseas marketing campaign, designed to position Ireland as the pre-eminent location for companies who are seeking to invest in future innovation.

I am in the process of reviewing a new strategy for the future direction of FDI which IDA has developed, and subject to my approval, will shortly be published. This strategy will set out some specific initiatives which IDA will be undertaking to retain existing and secure new FDI. In addition, it will identify the opportunities in the FDI markets, while stressing the importance of restoring our relative international competitiveness if we are to maximise FDI potential.

During 2010, the IDA will continue their work to capitalise on our quality workforce, our creativity, our international attitude to business, attractive incentives for R&D and our favourable tax climate to attract multinationals to set up a base in Ireland as a launch pad for markets in Europe, Africa and the Middle East.

Despite the global turbulence 2009 was a good year for inward investments, with IDA winning 125 investments and already in 2010 there have been 7 announcements with a potential to create at least 280 jobs in Dublin, Galway and Tullamore.

Table showing the number of foreign investments won by IDA in each year 2002 to 2009