Bernard Durkan (Kildare North, Fine Gael)
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91. To ask the Minister for Enterprise, Trade and Employment the degree to which he expects Ireland to continue to attract foreign direct investment in the future notwithstanding changes in corporation profits tax; and if he will make a statement on the matter. [7050/22]

Leo Varadkar (Dublin West, Fine Gael)
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Ireland will continue to remain an attractive location for FDI in the future. In signing the OECD International Tax agreement in July 2021, Ireland provided clarity, a long-term view and the assurance of enduring stability and certainty to companies currently investing in Ireland and those making decisions about where to invest. Although it will affect a small number of larger companies, for the overwhelming majority of enterprises in Ireland, nothing has changed.

During 2021 IDA Ireland won 249 FDI investments, 104 of which were new name investments. The number of people directly employed in multinational companies in Ireland grew to 275,384, with over 29,000 new jobs being created by the sector in 2021. This level of employment is the highest level of foreign direct investment employment ever reached in Ireland. As evidenced by these figures, the confidence of investors in Ireland remains strong. These investment decisions were taken not only within the context of the OECD International Tax negotiations and agreement, but also during a volatile international environment as a result of Brexit, the COVID-19 pandemic and a global downturn in FDI.

Our tax rate is only one aspect of what Ireland offers potential investors. Companies who set up or expand in Ireland reap the benefits of our business-friendly environment, our highly skilled and educated workforce, and our commitment to the European Union and the Single Market.

Despite the challenges of the last two years, Ireland has proved once again to be a resilient, and stable platform for companies choosing to invest here. The decision on corporate tax has not impacted on Ireland’s reputation as a competitive, attractive, best-in-class location to do business.