Tommy Broughan (Dublin Bay North, Independent)
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459. To ask the Minister for Jobs, Enterprise and Innovation her views on recent statistics from UNCTAD that show that total foreign direct investment inflows into the State declined by €71 billion for the first half of 2018; and if she will make a statement on the matter. [44708/18]

Tommy Broughan (Dublin Bay North, Independent)
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460. To ask the Minister for Jobs, Enterprise and Innovation if she will report on foreign direct investment for the first three quarters of 2018; if an organisation (details supplied) is concerned that the tax changes by President Trump may be having a negative affect on this investment; and if she will make a statement on the matter. [44709/18]

Heather Humphreys (Cavan-Monaghan, Fine Gael)
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I propose to take Questions Nos. 459 and 460 together.

Ireland continues to perform very strongly in terms of attracting Foreign Direct Investment (FDI), with over 210,000 people employed in IDA Ireland client companies here. FDI flows into the country have been particularly significant in recent years with pronounced growth in total job numbers and investment projects.

The reduction in FDI in the referenced report concerns the movement of cash assets following the enactment of the US Tax Cuts and Jobs Act in late 2017. While I understand some US firms in Ireland have repatriated such financial resources since that legislation came into force, there has been little discernible impact on their actual operations here.

I am also confident, despite recent changes to the American taxation system, that US and international firms will continue to locate or expand further in Ireland. Our strengths – including our pro-enterprise policy environment, highly educated workforce and competitive taxation regime – remain attractive to international investors. Indeed, the IDA’s mid-year results reflect an active and healthy pipeline of investment into the country. The Agency, for example, secured 139 projects in the first six months of this year, compared with 114 in the first half of 2017.

The Government is nevertheless very much conscious of our need to remain as competitive as possible in FDI terms. That is why we will continue to invest, for example, in our national infrastructure and take other steps that will help ensure Ireland remains a destination of choice for overseas investors.