Irish companies are now investing as much money abroad as foreign firms plough into Ireland

Ireland Online:

Minister for Trade and Commerce Michael Ahern welcomed the Forfas International Trade and Investment Report, which found Ireland’s outward Foreign Direct Investment (FDI) rose to its highest ever level in 2004.

“This report emphasises the changing nature of production in Ireland, particularly how Irish companies are increasingly winning export business in services activities, which is timely in light of the European Parliament’s vote on the Services Directive last Thursday,” he said.

“It is also interesting to note that for the first time Irish firms are now net outward foreign direct investors.

“In the future, this will be an important way for Irish businesses to access new markets, and to specialise their domestic operations in high value added activities.”

Foreign-owned sector accounted for 87.6% of Irish exports in 2004

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Launch of Forfás International Trade and Investment Report