IDA Ireland says Brexit may “present opportunity" for country

Despite expressing disappointment with referendum result, the agency says we remain attractive to investors

IDA Ireland says Brexit may “present opportunity" for country

Open Europe

IDA Ireland, the Irish Government's inward investment agency, has given a positive take on the UK's decision to leave the EU.

The agency makes the case that, while it was rooting for a 'Remain' result, Ireland remains a strong, open and competitive economy and our EU membership could give us a major advantage going forward.

Chief executive Martin Shanahan said:

"IDA Ireland's view throughout this period has been that Ireland would benefit overall from the UK remaining a member of the European Union, however now that there is certainty on the result IDA Ireland will liaise directly with its 1200+ client companies and potential investors over the coming weeks in order to work with them on the implications of the vote.

"The exact implications of the result would not be known for some time, and IDA Ireland would take stock of developments as clarity emerges.

"While not what we had hoped for – the situation may present opportunity for Ireland in attracting Foreign Direct Investment (FDI). Ireland will remain a member of the European Union with full market access and that will be attractive to investors."

"Ireland’s proposition to inward investors will continue to resonate. Our deep and varied talent pool, competitive and consistent tax regime and long track record of working with foreign companies is something that companies are interested in.

"The fact that Ireland is English-speaking and a member of the EU and Eurozone is also attractive.”

"As we have always done, IDA Ireland will continue to market Ireland across the globe as the number one location for foreign direct investment."