No new major investments into Ireland since Brexit trade deal   

Since Britain voted to leave the EU in the summer of 2016, the IDA had processed over 90 investments that were linked to the Brexit decision from a range of financial firms, including Barclays. Picture: Ian West/PA Wire

Multinationals facing Brexit disruption have not made any new investments in Ireland since Britain and the EU struck the free trade deal in late December. 

No approval has been made for a new investment project or an expansion of operations in Ireland following the Brexit trade deal struck, a spokesperson for the IDA said. 

The Covid-19 pandemic has hit foreign direct investments worldwide, as the biggest economic crisis since the financial crisis in 2008 wreaked havoc on business plans.

As part of a recovery plan for the Irish economy, the IDA last month detailed its plans to create around 50,000 new jobs in the coming years, which includes a significant focus on the Munster region.

Multinationals have helped shield the State from some of the worst of the economic fallout from Covid, as the global sales of pharma firms based here have boomed during the pandemic. 

However, any large dividend from a new flow of investments as a result of Britain’s trade deal with the EU in December has yet to materialise.

Since Britain voted to leave the EU in the summer of 2016, the IDA had processed over 90 investments that were linked to the Brexit decision from a range of financial firms, including Barclays, Morgan Stanley, and Bank of America Merrill Lynch.

According to IDA, the projects have led to the creation of over 6,060 jobs. 

But Britain’s new trade deal with the EU has not resulted in any new associated investment.