The Irish Prime Minister, Simon Harris, highlighted the need for infrastructure investment and addressing the housing shortage to maintain Ireland’s competitiveness in attracting foreign investment. With major US companies like Apple, Microsoft, and Intel having operations in Ireland, there is concern about potential relocation due to increased competition. The housing crisis in Dublin and underinvestment in public transport are also pressing issues.
Elaine Murphy, President of the American Chamber of Commerce, emphasized the importance of action on housing and infrastructure to retain US companies. Allan Mulrooney, Head of the Western Development Commission, called for immediate investment in the energy grid and rail infrastructure in western Ireland.
Although Ireland has seen economic success with a record corporate tax take, there are concerns about overreliance on multinational corporations. Michael Lohan from IDA Ireland reassured that the ECJ ruling on Apple doesn’t pose a capital flight risk, but emphasized the need to diversify the economy to ensure continued success.
Overall, Harris stressed the importance of industrial policy alongside tax incentives to attract and sustain foreign investment, with a focus on growth in the semiconductor industry in Ireland.
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