“Ireland is rated, throughout the world, as one of the best locations for foreign direct investment”, John Dunne Chairman of IDA Ireland, the country's investment promotion body, told those gathered at the launch of the organisation's annual report.
According to Mr Dunne, international investors are attracted to Ireland because it is the most globalised country in the world, with the highest rate of foreign direct investment flows as a percentage of GDP and also boasts a low corporate tax rate and a good quality of life.
"Business and community leaders everywhere point to our success as a model of how a country and its people can transform into a dynamic world-leading centre for business growth” he stated, adding that:
“Ireland’s value proposition today is substantially different from the past. We have moved away from low cost, low value assembly and service operations where the primary objective was simply job creation. The Ireland of the 21st century presents the opportunity for the international business investor to be part of a leading global business location offering world-class innovation and development, superior performance and efficiency and cutting edge business integration and support solutions.”
“The benefits of this for Ireland have to be measured differently also. We should no longer just count the number of jobs created but also measure the levels of investment, the nature and quality of the employment and the strategic relevance of the activities. In our report today we have begun the process of showing our performance in this way."
Describing 2004 as a "watershed" year in terms of investment, Dunne noted that several high-calibre firms invested in Ireland last year, including Lucent Bell Labs, IBM, Hewlett Packard, Intel, Centocor, Guidant, Yahoo and Merrill Lynch.
“Our business in 2005 continues to be buoyant and is on target. The quality of the investments is being sustained and in particular we have had considerable success in locating projects in towns throughout the country,” he observed.
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