The IDA reported that Ireland is losing competitiveness in attracting foreign direct investment (FDI) due to high energy costs and a lagging power supply. Although traditional investment drivers remain important, new factors like green initiatives and subsidies complicate the investment environment. The agency highlighted the urgency of increasing electricity supply to accommodate the demand from expanding sectors like data centers. Delays in connections to the national grid raise concerns, and a reduction in FDI could lead to significant tax revenue loss for the country.
The IDA briefing emphasized that strong security of power supply is 'imperative' for attracting foreign companies, amidst rising energy costs in Ireland.
Ireland's operating environment for foreign direct investment is becoming increasingly aggressive, with a relentless focus on competitiveness amid rising global pressures.
Traditional investment drivers like tax and talent remain critical, but new factors, such as green technology and nation status, complicate investment landscapes.
Urgent action is needed to increase electricity supply to meet growing demand from sectors like data centers, which are crucial for economic growth.
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