Thursday 19 July 2018

IDA warning on our competitiveness

IDA boss Martin Shanahan
IDA boss Martin Shanahan

Dearbhail McDonald - Group Business Editor

The chief executive of the IDA, Martin Shanahan, has said Ireland has to remain "vigilant" about competitiveness in order to ensure the country remains an attractive place to invest.

Mr Shanahan was speaking after IDA client companies last week announced 600 jobs in the north-east and midlands, and 250 new jobs in the capital.

Louth welcomed 400 new jobs after Hong Kong-listed WuXiu Biologics announced plans to invest €325m at its new facility in Dundalk. Longford also received a boost of 200 jobs after New York-listed Avery Dennison Corporation expanded its medical product manufacturing operations there.

Software provider Aptiv has also relocated its global HQ to Dublin, generating 250 new roles by year end.

Mr Shanahan said that the IDA was targeting a minimum increase in investment of 30pc to 40pc in each region outside Dublin, but warned this was extraordinarily challenging.

"We must not be complacent," he said. "The investor landscape is changing constantly and Ireland has to remain vigilant about its competitiveness. Business models evolve while technology continues to disrupt most industries so there is an ongoing need for Ireland to win investments, but also to replace where downsizing or restructuring has taken place."

Irish Independent

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