Ireland continues to attract FDI

Business, Finance | Thu 7 Jul | Author – Business & Finance
Martin Shanahan
Martin Shanahan, CEO, IDA Ireland

Inward investment agency IDA Ireland has reported strong first half figures for 2016 as Ireland continues to be one of the strongest performers in Europe in the foreign direct investment (FDI) sector.

Investments approved by IDA in the first half will lead to the creation of 9,100 jobs as companies roll out their plans over the coming months and years.

Ireland won 115 projects in the first six months of the year, compared to 110 in the same period last year.

While the US remains Ireland’s key source market, growth markets including Asia-Pacific are showing increased growth over a smaller base.

However, the IDA warned that the impact of Brexit on the global and the European economy was as yet unknown and it could have a dampening effect on FDI globally.

Martin Shanahan, IDA CEO, said: “Similarities between Ireland and the UK and attributes such as being English speaking, a common law system and geographic proximity means that Ireland will be the first choice for many companies that require a base within the European Union.”

Commenting on the first half trends, he added: “The flow of investments won by Ireland in the first half of the year have been very strong considering the global economic and geo-political backdrop, and we are cautiously optimistic that the second half of the year will see a continuation of this trend.”