'Clarity versus confusion' - Brexit makes distinction between Ireland and UK for investors, says agency

'Clarity versus confusion' - Brexit makes distinction between Ireland and UK for investors, says agency

Brexit is making Ireland a "safer pair of hands" in terms of foreign direct investment, according to Raymond Sexton, founder of Tangible Ireland, an independent economic and social development agency that provides support services to FDI projects here.

Today, the Government and the IDA will publish the agency's annual results for 2018 and an update on FDI trends in Ireland.

Mr Sexton says Brexit is good for Ireland in relation to foreign direct investment.

He said: "Essentially Brexit is actually making Ireland a safer pair of hands, everyone thinking of heading to Europe or the Northern Hemisphere or across the Atlantic immediately think - London, confused, Dublin, clear.

"It's that simple at the moment, it's clarity versus confusion."

He said the outlook for foreign direct investment in Ireland in 2019 is good but we have to be positive and pragmatic.

Mr Sexton said FDI is very important for Ireland and Irish businesses.

He said: "I think the main thing that FDI brings is confidence, I think a lot of people focus on money but I think the real benefit of dealing with investment in Ireland in the last four decades has been the capacity building and the body of knowledge among engineers and scientists and people.

"People have a spring in their step if they say that they work for multi-national and when they walk out of the multi-national they may start up their own business and they don't have that inferiority complex."

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