Foreign direct investment (FDI) Ireland Quarterly Update - June 2023

Foreign direct investment (FDI) has been a key pillar of Ireland's economic strategy for decades and has helped fuel economic growth in Ireland and the brand success of 'Ireland Inc.' since the mid-1990s. FDI remains key to Ireland's economic success, and today, Ireland is the most popular destination for FDI projects in the EU, when measured on a per capita basis.

In recognition of this, the Ogier team prepare a quarterly FDI newsletter which provides news, legislative updates, statistics and analysis relevant to FDI into Ireland. Please click here if you wish to be included on our mailing list. [Need link]

Welcome to the first edition of our quarterly foreign direct investment (FDI) update. In positive economic news, recent figures indicate that the number of people directly employed in Ireland's multinational sector has climbed to its highest ever levels, with government estimates now that 20% of all private sector employment is directly or indirectly attributable to FDI. The number of people directly employed in Ireland's multinational sector climbed to its highest ever levels towards the end of 2022.

Notwithstanding both the much-publicised recent layoffs of employees in the tech sector, as well as the increase in energy prices arising primarily from the ongoing war in Ukraine, Ireland remains a key attractive destination for foreign capital. Our recovery from the global pandemic has also been comparatively rapid, and our borders are open for business.

At a glance: US and Ireland 

Trade and investment

• Ireland is the 9th biggest investor in the US
• Over 650 Irish companies operate across all 50 States with 100,000 employees
• US companies directly employ 209,000 people in Ireland and a further 167,000 indirectly
• A third of US multinationals in Ireland have been here for over 20 years

US multinational spending in Irish economy in 2021

• €14.1 billion on payroll;
• €7.9 billion on capital expenditure; and
• €8.7 billion on goods and services.

Tech and life sciences choose Ireland

Ireland is home to: 

• 9 of the top 10 US technology companies;
• 9 of the top 10 US pharma companies; and
• 14 of the top 15 MedTech companies.

*These figures are courtesy of the American Chamber of Commerce Ireland.

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Irish company law update: Corporate Enforcement Authority given more teeth | Ogier

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Update on the Screening of Third Country Transactions Bill 2022: potential impact on pending or recently completed transactions | Ogier 

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