Ireland is facing greater competition than ever before as a location for global Foreign Direct Investment (FDI), according to Chartered Accountants Ireland.
The body warned that Ireland must address “infrastructural deficits” to ensure FDI continues to grow.
“Ireland’s record of attracting FDI has been the envy of other countries for decades and IDA Ireland has played a pivotal role,” said Cróna Clohisey, Director Public Affairs at Chartered Accountants Ireland.
“However, against a backdrop of heightened geopolitical uncertainty and intensifying global competition for inward investment, we cannot afford to be complacent about our offering.
“The significant deficits in the State’s crucial infrastructure, including housing, energy, water, childcare and nationwide public transport, need to be addressed with urgency if we are to remain fully competitive in the race for future FDI,” she added.
With a new US administration taking office in a matter of weeks, Barry Doyle, President of Chartered Accountants Ireland said there is an increased chance of disruption to the traditional flow of FDI globally
“However, investors with a long term, sustainable outlook will look beyond short-term protectionism,” he said.
“Ireland as a safe and stable environment will continue to benefit greatly from FDI and we as Chartered Accountants will be there to lead and support such investments,” he added.
Chartered Accountants Ireland has today launched a new guide to FDI in Ireland at an event with IDA Ireland in Dublin.