Written answers

Thursday, 16 December 2021

Department of Finance

Foreign Direct Investment

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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269. To ask the Minister for Finance the extent to which this country remains attractive for foreign direct investment; and if he will make a statement on the matter. [62739/21]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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Since the onset of the Covid-19 crisis, businesses have been faced with unprecedented challenges and uncertainty. The latest data from the CSO confirms that following a steep decline at the start of 2021, the domestic economy has subsequently made a rapid recovery.

Against the backdrop of the pandemic, inward FDI flows to Ireland still amounted to around one-fifth of GDP in 2020 according to the OECD, the second highest in the EU and significantly higher than the OECD average. Ireland remains internationally recognised as a competitive country. According to IMD, Ireland ranked 13th in its world competitiveness rankings in 2021. With the economic recovery underway, FDI investment will continue to play a crucial role in helping to ensure a strong and sustainable recovery going forward.

Ireland’s FDI performance in recent years has been exceptional and we have built a reputation as a resilient, innovative and stable location to do business. This provides a strong foundation on which Ireland can build upon in coming years.

Despite the disruptions caused by Covid to the global FDI landscape, Ireland remains an attractive prospect for foreign direct investment, as foreign firms recognise Ireland’s unique competitive advantages, namely our talented and flexible workforce, our hard-won reputation as a pro-enterprise jurisdiction, and our successful record as a home for global business.


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