Paul Murphy (Dublin South West, Solidarity)
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211. To ask the Minister for Enterprise, Trade and Employment if he has made provision to protect the employment of 750 workers in a company (details supplied) in the event of a withdrawal of the company from Ireland; and if he will make a statement on the matter. [21866/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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Teva Pharmaceutical Industries Ltd is a leading global pharmaceutical company, headquartered in Israel with operations in over 60 countries. Teva’s product and service portfolio includes generic medicines, biopharmaceuticals, specialty medicines, OTC products, a distribution business, API, and contract manufacturing.

Teva Ireland (Waterford) was established in 1985. Products at the Waterford site involve multiple APIs, steroids, along with complex device designs that incorporate multiple moving parts with extremely tight tolerances. IDA is engaged with site leaders of the company on an ongoing basis. and is not aware of any plans for the company to withdraw operations from Ireland.

More generally, in the face of ongoing global competition and a changing trade and investment landscape, Ireland has a strong platform for growth as reflected in the latest Annual Business Survey of Economic Results. Expenditure within the economy by FDI companies increased by 6.5% to €38.6 billion during 2023 showcasing the resilience and adaptability of our economic framework. Payroll rose by 7.6% to €23.9 billion; spending on Irish services and materials grew by 4.7% to €14.6 billion and total exports of €421 billion marked a 7.3% increase year-on-year. In addition, capital expenditure of €13.2 billion, represented the second highest level on record reflecting strong levels of investment activity. In tandem, in-house R&D investment by IDA Ireland clients during 2023 reached €9 billion, marking an increase of more than 26% on the previous year. These figures speak to the significant contributions of FDI companies to the Irish economy and to the conducive environment for further growth and investment.

Maximising the contribution of FDI has always been a key focus of IDA Ireland in seeking to spread the benefits of FDI across Ireland. Despite challenging economic circumstances, Ireland has consistently performed well in attracting Foreign Direct Investment over many years. The sustained winning of investments has had a significant and positive impact on Ireland’s regions and their local economies such as Waterford.