IDA upbeat on foreign investmwent in Ireland

Sixty-three foreign firms have invested in Ireland so far this year, industry chiefs revealed today.

Enterprise agency IDA Ireland said 20 investments were from companies setting up in Ireland for the first time, 22 were expanding and 21 were in research and development.

Batt O’Keeffe, Enterprise, Trade and Innovation Minister, said he was confident ambitious targets for overseas investments would be secured this year.

“The impact of FDI (Foreign Direct Investment) on Ireland’s economic recovery is highly significant,” he said.

“The (IDA) Agency continues to attract and secure for Ireland leading Foreign Direct Investment that will add to Ireland’s smart economy reputation.”

Barry O’Leary, IDA Ireland chief executive, said the IDA still had a positive pipeline for investments.