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US investment in Ireland continues to increase

Written by Robert McHugh, on 7th Mar 2019. Posted in Ireland

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The American Chamber of Commerce Ireland today hosted its inaugural ‘US Ireland Business Conference – At the Heart of the Transatlantic Economy’.

Incoming President of the American Chamber Mark Gantly welcomed guest of honour, An Taoiseach Leo Varadkar to the event, which also featured the launch of the 2019 US Ireland Business Report with an economic chapter by Wall Street economist Joseph Quinlan which highlights the continuing growth and strength of the Irish US business relationship. 

This comes after recent research showed that 12.6% of investment into the EU is in Ireland. It is estimated that over 700 US companies now employing 155,000 people directly in Ireland, with an additional 100,000 employed in supporting businesses.

The American Chamber US Ireland Business Conference will explore a number of the themes and challenges that are central to Ireland’s continued success in the battle for US FDI, including: 

1. Ireland – an island of opportunity at the centre of the world 
2. The State of Play – Two Way Investment, Trade Relations and the current Geo Political Climate 
3. Ireland – an island of innovation at the heart of the transatlantic relationship 
4. Regulating for a Digital Economy – Trust and Security 

 
Apart from an address by An Taoiseach, guest speakers will include Andrew McDowell (VP, European Investment Ban), Majorie Chorlins (VP, US Chamber of Commerce), leaders from a number of US multinationals and Data Protection Commissioner, Helen Dixon. The event will close with an address by Irish Ambassador to the US, Dan Mulhall, and the Acting US Ambassador to Ireland, Reece Smyth. 
 
Speaking at the conference, An Taoiseach, Leo Varadkar said, "The cumulative impact of decades of American investment in Ireland has been central to our emergence as a dynamic, competitive, open economy. Ireland is now a location of choice for more than 760 US companies, which among them directly employ upwards of 160,000 people here. I believe the economic relationship between Ireland and the United States is resilient, and full of promise for the future.” 
 
The President of the American Chamber, Mark Gantly added, "Our US Ireland Business Report shows that US direct investment stock in Ireland totalled a record $446bn in 2017, a 14% increase from the prior year. And figures from the Bureau of Economic Analysis show that Ireland’s share of US investment stock in Europe was 12.6%. On the back of those figures, it’s fair to say that the transatlantic business relationship continues to deliver for the Irish economy."

Source: www.businessworld.ie

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