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Sunday, April 21 2024
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IDA Ireland: Strong investment growth boosts Ireland’s FDI appeal

IDA Ireland CEO.
Photo Credit : Wikimedia

IDA Ireland has reported steady investment growth in the first half of 2023, signaling positive prospects for the rest of the year. The agency secured 139 investments during this period, with 52 being new and 67 allocated to regional locations. These investments are expected to generate 12,072 jobs, further enhancing Ireland’s appeal as a preferred destination for major projects.

Tanaz Buhariwalla, the India Director of IDA Ireland, expressed satisfaction with the results and highlighted the strategic and innovative nature of the investments. Despite global economic challenges and stagnant foreign direct investment (FDI) in Europe, Ireland has remained attractive to companies, particularly in India’s thriving digitization and lifesciences sectors.

Michael Lohan, CEO of IDA Ireland, emphasized the resilience of the FDI sector and its contribution to Ireland’s stability and pro-business environment. Lohan stressed the importance of embracing digitalization and decarbonization for future success and commended the Government’s vision for enterprise policy until 2030.

Maintaining Ireland’s current investment levels and seizing future opportunities require addressing infrastructure needs, promoting digital skills, and managing costs. The Minister for Enterprise, Trade, and Employment, Simon Coveney, praised the record-breaking FDI and affirmed the government’s commitment to spreading well-paid and sustainable jobs across all regions of Ireland.

IDA Ireland’s mid-year report confirms Ireland’s position as an attractive destination for foreign direct investment. The sustained success relies on enhancing infrastructure, digital skills, and cost management in the current economic climate.

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