Thursday, 12 October 2017
Department of Jobs, Enterprise and Innovation
Foreign Direct Investment
54. To ask the Minister for Jobs, Enterprise and Innovation the way in which Ireland compares with other EU and non-EU member states, including the UK, in terms of an attractive location for business and enterprise to locate and avail of innovation and technology; if there are particular areas needing attention in this regard particularly after Brexit; and if she will make a statement on the matter. [43333/17]
Despite increasing international competition from across the EU and further afield for foreign direct investment (FDI), overseas companies continue to be attracted to Ireland. That is because multinational businesses value our talented workforce, membership of the EU and Eurozone as well as our proven track record as a home to FDI.
The Government is very much aware, however, that we must work hard in order both to sustain FDI and encourage more companies to locate or expand here. That is why we are continuing to improve our offering to international investors. This includes taking steps to enhance our competitiveness and infrastructure, together with the supply of talent for overseas businesses.
In terms of innovation and technology, a concerted and successful effort has been made to develop an innovation-driven enterprise and academic culture and our country is now firmly on the global map for the excellence of our research. Our investment in research and innovation has also helped to foster indigenous enterprise and to attract FDI from some of the world's leading companies.
While significant strides have therefore been taken to grow our international innovation and technology profile, more work remains to be done. That is why the Government developed its Innovation 2020 strategy, which is our five-year roadmap for research and development, science and technology. We are committed to the implementation of the actions set out in that strategy which will help to drive our economy and deliver a better society.