Alan Farrell (Dublin Fingal, Fine Gael)
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122. To ask the Minister for Enterprise, Trade and Employment if he will outline his efforts to attract foreign direct investment in Ireland in 2023; and if he will make a statement on the matter. [8489/23]

Simon Coveney (Cork South Central, Fine Gael)
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Foreign Direct Investment (FDI) plays a significant role in Ireland’s economy and the flow of FDI into the country is strong. Numbers directly employed in the multinational sector in Ireland reached 301,475 at the end of 2022, the highest FDI employment level ever, and a 9% increase on 2021. A total of 32,426 gross new jobs were gained in 2022. 242 investments were won and 103 of these are new name investments. Of the new investments, 52% - or 127 of the 242 investments won - went to regional locations and there was employment growth in every region of the country.

These record results demonstrate not only the resilience of the FDI sector in Ireland, but also the strength of Ireland’s value proposition and attractive business environment, which enables global companies to successfully invest and expand in Ireland.

As we face a challenging and competitive global environment, Ireland will continue to strengthen its attractiveness for FDI. Efforts in this area are guided by IDA Ireland’s Strategy, "Driving Recovery & Sustainable Growth 2021-2024". The Strategy seeks to consolidate and build on the positive impact of FDI as Ireland pursues a jobs-led pandemic recovery, as envisaged in the Programme for Government, while seizing the opportunities of the green and digital transition.

The continued promotion of FDI in Ireland is further supported by the Economic Recovery Plan and the Trade and Investment Strategy 2022-2026: Value for Ireland, Values for the World. Key priorities set out by that Strategy focus on the promotion of Ireland’s investment ecosystem and reaping the benefits of the EU Single Market. Moreover, the White Paper on Enterprise, published by Government in December 2022, also highlights the key role played by FDI in supporting economic growth and employment. The White Paper outlines the strategic direction for Ireland’s enterprise policy over the rest of the decade in the context of challenges, opportunities and new drivers of growth and we are committed to work to protect the core elements of Inward Investment policy that make Ireland an attractive location for enterprise development. Biennial Implementation Plans during the lifetime of the White Paper will further set out our FDI strategies, with the first Plan for 2023/2024 due by the end of Q1 this year.