Bernard Durkan (Kildare North, Fine Gael)
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181. To ask the Minister for Enterprise, Trade and Employment the countries with which Ireland remains in competition in respect of foreign direct investment; and if he will make a statement on the matter. [61070/21]

Leo Varadkar (Dublin West, Fine Gael)
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Investors’ confidence in Ireland remains strong as evidenced by the flow of investment projects over recent months and years. In 2020, Ireland increased its market share of FDI into Europe in the face of global declines in FDI. In July 2021, IDA Ireland reported significant investment growth in the first half of 2021, noting that FDI employment creation plans were nearing 2019 levels. IDA Ireland gained 142 investments in the first half of 2021, with an associated employment potential of over 12,530 jobs. 62 were new name investments and 48% of investments went to regional locations.

IDA Ireland recognises that there is global competition from many overseas locations within Europe and further afield in attracting mobile foreign direct investment. In this respect, the Agency is constantly monitoring competitor locations and the value propositions they offer potential mobile investment. Published reports from subject matter experts including EY and FDI Markets, a division of the Financial Times, indicate the top performing countries in Europe for FDI attraction. Ireland features prominently in these rankings, typically alongside far larger countries including the UK, Germany, Spain, France, and Poland.

Competition for FDI is intense, with virtually every country in the world seeking new FDI investments. Every single job created in Ireland by an overseas company has been hard won, against competition from a growing range of sophisticated locations. Ireland’s success in attracting a large share of substantive, job creating FDI reflects the country’s strength as a location in which businesses can succeed and grow.

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 and IDA Ireland will continue to work closely with international clients, from a range of sectors, to attract job-rich investment from overseas firms.

Retaining and strengthening Ireland’s reputation as a first-class destination for foreign direct investment remains fundamentally important to our economic model. I am confident that multinationals will continue to locate or expand further in Ireland in the years ahead.