FDI urged to refocus on developing world

Ireland is "squarely in the crosshairs of competitors" in terms of its ability to attract foreign direct investment despite being the world’s 14th most connected country.

That is the view of the McKinsey Global Institute which recommends that Ireland refocuses its FDI policy to attract a greater share of multinationals from the developing world and curb its dependance on the country’s 12.5% corporation tax to attract investment.

The institute advises placing greater emphasis on developing the core areas of education, skills, infrastructure and quality of life which have the dual effect of encouraging companies to set up here, and increasing productivity.