Ireland top of the rankings for attracting higher-value investment

Ireland has extended its sequence of topping the global foreign direct investment rankings to a fourth consecutive year.

Foreign direct investment has long been a cornerstone of the economy with its low corporation tax and highly-educated, English-speaking workforce among the key reasons companies which now employ more than 160,000 people locate here.

The latest Global Location Trends report compiled by IBM finds Ireland continues to attract investment projects in industries such as life sciences and information and communication technology.

Ireland pipped Switzerland to top spot in the report with Sweden, Denmark, Lithuania and the Netherlands next in line.

Meanwhile, Ireland also topped the EU employment statistics table again yesterday.

The number of people working grew at a faster pace over the last year than in any other EU country, according to the latest statistics from Eurostat.

However, for the second quarter of this year, the country was outpaced by countries where employment was hit worse than Ireland during the crisis, Portugal, Greece and Spain.

The figures for the EU overall continue to bear out fears that economic recovery is not being accompanied by the kind of job creation needed to cut dole queues fast enough.

The number of persons employed in the euro area rose 0.3% and by 0.2% in the EU28 in the second quarter of the year compared to the first three months when seasonally adjusted.

Eurostat estimates that from April to the end of June 228.8 million people were working in the EU28, an increase of 400,000 people.

Employment growth in Portugal was 1.3%, Greece 1.2%, Ireland and Spain both at 0.9% while Finland recorded the biggest decrease at 0.3% following by Britain, Bulgaria and Lithuania.

Unemployment in Ireland fell to 9.5% last month, the first time in seven years it fell below 10%.

The lowest ever was 3.7% registered in Marcy 2001.

The European Trade Union Federation said the kind of jobs being created differed greatly, with the number of zero-hour contracts in Britain growing 20% in the past year while many in Spain were poorly paid temporary work.

Germany was the exception with robust growth adding 160,000 in the second quarter.

Many of the ‘mini-jobs’ were being replaced with properly paid ones due in part to the adoption of a minimum wage, a statement from the federation said.


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