Bernard Durkan (Kildare North, Fine Gael)
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114. To ask the Minister for Enterprise, Trade and Employment the extent to which the island of Ireland is likely to continue to be an attractive place for foreign direct investment; and if he will make a statement on the matter. [52862/21]

Leo Varadkar (Dublin West, Fine Gael)
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Enhancing the country’s attractiveness to FDI is a policy objective in both Ireland and Northern Ireland. FDI policy in Northern Ireland is a matter for the Department for the Economy.

My Department’s agency, IDA Ireland, has been securing FDI investment for Ireland for over 70 years. Currently, the economy faces twin challenges arising from COVID-19 and Brexit. In the context of COVID-19, the continued resilience shown in the existing FDI base is encouraging, as it is crucial to our economic recovery from the pandemic. 80 FDI investments in the first half of the year were by established companies, with a further 62 'new name' investments.

The lead up to Brexit saw the IDA make concerted efforts to ensure its client base was prepared for any Brexit-related risks, and able to respond to any Brexit-related issues. We want overseas firms that already have a presence here to stay well into the future. Ever since the UK referendum, the Agency has sought new opportunities to attract investment to Ireland, securing 92 Brexit-related investments with an associated jobs potential of 5,900. Furthermore, the IDA has diversified its source markets for foreign direct investment, restructuring its European operations, and deploying additional resources in the Middle East, Asia, and Latin America.

IDA Ireland continues to emphasise the core elements of Ireland’s value proposition for foreign direct investment. Our strengths – including our pro-enterprise policy environment, highly-educated English-speaking workforce and our membership of the European Union – remain attractive to international investors. Retaining and strengthening Ireland’s reputation as a destination of choice for foreign direct investment remains fundamentally important to our economic model.