Ireland No 1 destination in the world for US FDI – report
Ireland is now the number one destination in the world for US foreign direct investment (FDI), according to a new report commissioned by the American Chamber of Commerce Ireland.
The Irish-US Economic Relationship 2015 researched and written by Wall Street economist Joseph Quinlan highlights the key elements of the Irish-US economic relationship.
These include the fact that 130,000 people are employed by the 700 US companies here; that US companies have invested over US$277bn in Ireland since 1990 and output from US companies in Ireland now exceeds US$80bn a year.
Quinlan said: “The critical task in front of Ireland is ensuring its place in the high-end, value-added chain of multinationals, notably in services and evolving technologies that will change the nature of work and production. The Irish-US economic relationship is expected to remain robust and mutually beneficial.”
Eamonn Sinnott, president of the American Chamber of Commerce Ireland, said the report tells the story of how the Irish US economic relationship has gone from strength-to-strength in recent years.
“Thankfully investment is continuing with 140 new investments announced last year, 60 of which were from companies investing in Ireland for the first time,” he said.
“The huge scale of US investment into this economy couldn’t possibly be matched in the other direction, however it is positive to note that Irish investment into the US remains substantial. Irish companies have invested over US$26bn in the US and these businesses generate an impressive US$62bn in annual sales.”
For more please click:http://www.businessandleadership.com/exporting/item/49762-ireland-no-1-destination-in/