‘Ireland in good shape and going in right direction’

OUTGOING IDA chief executive Sean Dorgan said yesterday he was “positive and upbeat” about the future of inward investment to Ireland.

“The sky is not falling” he said in response to concerns that IDA Ireland might have lost its grip as the country started to lose some high profile investors, such as Motorola.

But Mr Dorgan, who quits his post in six months, stressed there was no room for complacency.

Those charged with responsibility for creating the right environment to ensure continuing foreign direct investment were clear and united in their understanding of what Ireland Inc requires to continue to do, in order to enure we continue to attract its share of foreign investors to our shores.

“There are plenty of challenges, but we’re in good shape and we’re going in the right direction,” he said.

One of the things that undoubtedly helps is that a very clear understanding that exists across much of the national players of what needs to be done, he said.

“It’s in the National Development Plan in its commitment to research and to the upgrading of infrastructure in all sorts of ways.”

He also agreed with sentiments expressed by the US Chamber of commerce in Ireland, the voice of many of the big foreign investors in Ireland.

In that context the need to address the cost-base on an ongoing basis was paramount and it was also imperative that we provide a secure energy base at a reasonable cost into the future.

Nuclear power has to be an option that is considered, he said. “I don’t know whether it is right for Ireland or not, but we should not exclude it from our deliberations.”

It was clear to him at this stage, that with the growing commitment to R&D among the companies served by the IDA, that a big need will continue to exist for science and other technical qualifications in Ireland.

“They can look at the prospects in science engineering and the technologies as areas in which Ireland will continue to have great strengths.”

Summing up he said: “It is a case of keeping our eye on the ball as we move forward. There is no need for panic, The sky is not falling in — absolutely not.”