Minister Michael McGrath Addresses AmCham Members at Thanksgiving Lunch

Minister for Public Expenditure and Reform, Michael McGrath TD, spoke 700 to AmCham members yesterday, outlining the important role of US MNCs in the Irish economy. “I would like to acknowledge and pay tribute to the critical contribution the members of the Chamber have made, and continue to make, in supporting the vibrancy and success of our economy," he said.

Speaking at the Lunch, Minister McGrath said: “Of course, when we speak of Foreign Direct Investment, it can sound quite technical and I think it’s always good to remind ourselves what it means for people and communities across Ireland. It means jobs, secure incomes and livelihoods for so many individuals and families in our country, it means investment in communities, and it means more opportunity for our indigenous Irish businesses in that wider ecosystem.”

Minister McGrath acknowledged the challenges that AmCham members are facing in areas around housing and the planning system. The Minister told attendees that a new Planning Bill will be brought to Government next month which is expected to  improve the functioning of the planning system through a range of measures, such as imposing statutory timelines for all consent processes – including by An Bord Pleanála.

AmCham President Catherine Duffy also spoke at the Lunch and reflected on a number of key themes including the strength of the US-Ireland trade and investment relationship, the climate crisis and the critical role of US multinationals during the Covid-19 pandemic.

Catherine Duffy said: “US investment in Ireland and Ireland’s hard-earned position as one of the US's most trusted business partner is rock solid. Over one-third of US multinationals in Ireland are here for more than 20 years… some are here for more than 60 years… their roots are very deep.”

On the topic of climate change, Catherine Duffy said: “The climate crisis will fundamentally change every aspect of how we live – how we learn, how we travel, how we manufacture, how we build, how we interact. We know that we have the skills and experience to help solve some of the world’s biggest challenges – we proved this with Covid. I firmly believe that with an ambitious mindset we can be at the centre of the innovations needed to respond to the climate crisis.”

Catherine Duffy also gave thanks to the people and teams who have done critical work, across their communities, for business, and for the economy over the past number of years. This included the winners of AmCham’s 2022 regional Cairdeas Awards, Pieta North-West, Cliona’s Foundation and Cork Simon Community.

You can watch Minister McGrath’s full speech, here.