FDI Reports Welcomed
Wednesday May 25th The American Chamber of Commerce Ireland today welcomed two reports which indicate that the positive trends of Foreign Direct Investment (FDI) here are continuing. "FDI is vital component of our economy, and one which has consistently performed well in spite of current economic difficulties. The two new reports issued today the ‘NIB FDI Quarterly Report' and the Ernst & Young's 2011 European Attractiveness Survey, point to continued strength in FDI for Ireland."
"US companies employ in excess of 100,000 people in Ireland," Joanne Richardson, Chief executive of the American Chamber. "Continued growth is predicted by NIB, and we welcome the fact that net FDI employment is predicted to grow by 6,000 will be a welcome boost to Ireland's economy. This comes in the wake of a 10% increase in European wide FDI growth as detailed by the E&Y report."
According to Richardson, "Ireland's competitiveness has been enhanced in recent years with the realisation of multiple infrastructure projects, an area which two thirds of investors a critical factor when locating investment." However Richardson cautioned "while we have seen these physical improvements, our costs remain out of line with many of our competing jurisdictions."