The American Chamber of Commerce Ireland have published their annual Pre-Budget Submission, outlining key priorities for October's budget.
 
The report claims that competition for FDI remains intense as investment, rather than trade, emerges as the key driver of the global economy in this century. The American Chamber says it is vital that an environment that supports the retention and growth of foreign direct investment continues to be fostered. 

They believe that while opportunities persist, Ireland must remain nimble and responsive to the evolution of industrial and tax policy in other jurisdictions or investment will be diverted away from Ireland and the EU.

In 2014 Ireland became the largest European recipient of US FDI, and investment flows from the US to Ireland since 2000 have been 6 times larger than those to China. Today, over 140,000 people are
directly employed in over 700 US firms in Ireland, accounting for over 70% of all IDA supported employment. Collectively US companies have US $310bn in foreign direct investment in Ireland,
representing over 10% of all US investment in the EU. 
 
According to the American Chamber of Commerce report, "The move by the UK to reduce its rate of corporation tax to 18% shows that Ireland was ahead of its time in recognising the importance and attractiveness of a single low rate of corporation tax across the economy. Ireland’s sustained FDI performance is attributed to Ireland’s track record of delivery, flexibility and innovation in a secure and business friendly environment."

Source: www.businessworld.ie