Inward Investment to Ireland. The success of the country’s inward investment policies is evidenced by the fact that approximately 1,000 foreign-owned companies have chosen to establish bases in Ireland. Priorities sectors for attracting inward investment IDA Ireland has selectively targeted certain areas of industry, in particular, those which produce sophisticated and high value products and services. These also offer the best growth potential and the best prospects of generating long-term sustainable employment in Ireland, and include: pharmaceuticals, biopharma and healthcare; e-commerce; Information and communications technology; software; and internationally traded services, notably financial services, customer contact centres and shared services centres. Within services, the priority industries identified by the Irish Government for investment are: international financial services; environmental services; tourism & travel; ICT services (incl. software development; international trading services – education, transport, business services; and telecommunications, internet, media & entertainment. (“TIME” as grouped by Enterprise Ireland). Within these sectors, factors considered critical to the success of their growth include: costs, regulations, skills, innovation and R&D, trade and enhanced public sector collaboration. Outward Investment from Ireland Despite the current challenges facing its economy, Ireland’s exporting sectors continue to perform well. In the face of the first decline in the global economy in sixty years, Ireland’s exporting sectors are proving remarkably resilient. Priority sectors for outward investment Having established itself as one of the world’s leading service economies; Ireland continues to be one of the biggest exporters of services globally. In 2008, exports of Irish-owned services companies amounted to €1.6 billion, a 16% increase on 2007. The Economic & Social Research Institute forecasts that by 2025, total services could account for over 70% of Irish exports and for nearly 80% of its GDP. The Irish Government believes that the Irish economy must continue to be export-led, and its intention is to grow the service sectors of its exports. It has therefore identified a number of sectors with significant export potential, including construction, insurance, payments, environmental services, healthcare, travel, e- learning, web 2.0, education, business process services and fund administration. Priority countries for outward investment Irish companies have ...
