Proposed law to screen investment flows into Ireland far too stringent, warns expert

New law could disproportionately affect Ireland, which relies on FDI more than almost any other country in Europe

Ronan Dunne, partner and head of competition, regulated markets and EU Law at Philip Lee, warns the bill could affect foreign direct investment. File picture

Planned legislation that will for the first time screen almost all major investment projects flowing from the US and Britain into Ireland could be “a double-edged sword” because Ireland relies on foreign direct investments more than almost any other country in Europe, a leading expert has warned.

Ronan Dunne, head of regulated markets and EU law at Philip Lee, said the domestic legislation could mean a large number of investments will unnecessarily face uncertainty.