Ireland backs global FDI trend

IRELAND’S performance in attracting overseas investment during the first half of 2005 is phenomenal when set against a backdrop of global decline in foreign direct investment (FDI), according to a new report.

OCO Consulting’s report, The Eye of the Tiger - Ireland Winning Overseas Investment, found that globally there has been a 17.6% decline in global FDI during the first six months of 2005, when compared with the same period of 2004.

However, the levels of investment into Ireland grew by 63.5% during the first six months of 2005, when compared with the same period of 2004.

As a destination for FDI, Ireland is now ranked 7th in the world, compared with 21st in 2004.

Much of the growth in investment into Ireland has come from retail and tourism-related investments.