Business Irish

Friday 20 April 2018

Multinational boost as US investment hits $30.5bn

Colm Kelpie

Colm Kelpie

US multinational investment in Ireland last year was the second highest on record. A report commissioned by the American Chamber of Commerce Ireland revealed investment in Ireland was $30.5bn (€23.6bn).

Ireland ranked third in the top list of European destinations, following the Netherlands with $55.7bn (€43bn) and the UK with $36.8bn (€29bn).

Enterprise Minister Richard Bruton, who will launch the report at a breakfast meeting today, said deepening and developing economic ties with the US will be crucial for economic recovery.

"The excellent report published today by the American Chamber shows that our performance continues to improve, with a 9pc increase in US investment here in 2011," the minister said.

Highlights from the report:

• The stock of US investment soared by nearly 20pc in 2011, rising to $188.3bn.

• More investment in Ireland's so-called 'information sector', which rose nearly 30pc in 2011.

• US firms invested more in Ireland last year than the total in developing Asia combined (roughly $23bn).

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