PayPal's Louise Phelan appointed American Chamber of Commerce president
Businesswoman Louise Phelan has been appointed president of the American Chamber of Commerce.
Speaking on her appointment, Ms Phelan, who is vice president global operations at PayPal, said now is the time to capitalise on the gains made during the bailout.
The American Chamber of Commerce Ireland represents the interests of 700 US companies in Ireland employing over 115,000 people.
Ms Phelan said that the credibility of Ireland’s response to changes in its economic fortunes has been instrumental in protecting ongoing investment into the country.
“The recent successful and over-subscribed bond auction by the National Treasury Management Auction reflected the clear confidence of international investors in Ireland”, she said. “The Moody’s upgrading of Ireland’s Government debt is also very significant as we have seen even this morning with the fall in the cost of Irish borrowings”.
Investment in Ireland by US multinational companies remains strong, she added.
Last year US companies made 118 investments accounting for 72pc of all IDA announcements.
Ms Phelan called for a renewed focus on competitiveness to sustain the positive momentum which is becoming evident in the economy.