Vast majority of American Chamber members say their US HQ’s rank Ireland positively as an investment

  • Release Date: 26/11/2020
Vast majority of American Chamber members say their US HQ’s rank Ireland positively as an investment location (94% according to a recent AmCham survey)
 
  • Chamber believes it’s important that Ireland presents a confident message to the world that the country remains open for business as we mark Thanksgiving in 2020
 
  • Availability of talent and addressing Ireland’s infrastructure gaps are the priority issues for investment decisions
 
  • American Chamber welcomes adoption of the EU traffic light system for international travel with over 81% of survey respondents believing it will improve business travel by June 2021
 
26 November 2020 –US FDI has remained committed to Ireland during the unprecedented year of 2020 and 94% of respondents to a recent AmCham survey say their corporate headquarters in the US are positive about Ireland as an investment location.  In light of the challenges ahead, such as Brexit and the predicted slowdown of the global economy, the Government must deliver a confident message to the world that Ireland is open for business.
 
Despite the challenges of the pandemic in 2020, sentiment among US companies here has remained strong, according to the Chamber.  When asked to rank their priorities in terms of investment decisions in Ireland, talent is the number one priority, followed by gaps in Ireland's physical infrastructure; delays in digitalisation; and availability of residential accommodation. Of the issues highlighted to survey respondents, a less competitive corporate tax offering due to international changes, and personal tax increases were also highlighted.
 
In the context of the pandemic and Brexit, the American Chamber believes that it is more important than ever for Government to present a confident message to the world that the country is open for business. In that regard, the Chamber welcomes the adoption of the EU Traffic Light System, with the vast majority of members, 81%, believing it will improve the situation for international business travel before June 2021. 
 
The American Chamber also asked members for their views regarding staff returning to their offices in 2021.  26% said they expect the majority of their staff to be back in the office by the end of March, 2021, while 52 % said it would take until the end of June, with a further 19 % saying they don’t expect the majority of their people to be back in the office until October next year
 
Speaking about the survey, Mark Redmond, Chief Executive, American Chamber, said “US FDI played a strong role in Ireland’s recovery from the last recession, and our expectation is that it will be equally strong this time around.  The sector has continued to perform strongly this year, particularly the pharma and technology companies, and will continue to contribute significantly to the overall Irish economy.  We welcome the introduction of the EU traffic light system for international travel, and we would urge Government to focus on the issues that are of paramount importance to US FDI in making their investment decisions, for example, ensuring our excellent talent pipeline is maintained and addressing the infrastructure gaps in the economy.”
 
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