IDA optimistic downturn won’t prevent foreign investments

STATE agency IDA Ireland has expressed cautious optimism about the country’s ability to attract foreign investment in the face of the global economic crisis.

Its chief executive officer, Barry O’Leary, said the outlook for further job announcements by IDA-backed firms over the next four months remained quite positive.

He also expressed satisfaction with the IDA’s “solid performance” during 2008 against the background of deteriorating global economic conditions, despite an overall 0.8% reduction in the number of people employed by IDA-supported companies.