Eurozone countries account for two-thirds of €172bn investment

FOREIGN investment in Ireland reached €172 billion in 2003.

Eurozone countries account for nearly two-thirds of the total, or just under 114bn, the Central Statistics Office said. But figures are distorted, said a spokesman for the CSO.

An IDA spokesman said their statistics show up to 70% of all FDI into Ireland over the last 20 years has been generated by US companies. And many US firms channel their investments through offices outside the US to gain maximum tax advantages.