IDA Ireland: Engaging with All Parties and Beyond

Preparedness Pays Off

IDA Ireland, an agency dedicated to supporting foreign direct investment in Ireland, prioritized preparedness during the 2021 UK media tour.

Chief executive Michael Lohan anticipated a range of questions, reflecting Ireland's political landscape and global economic challenges.

Beyond Partisan Politics

IDA maintains a nonpartisan approach: "We work on behalf of the government, regardless of what political party is in government."

This commitment extends to engaging with Sinn Féin, a party that has garnered significant support in recent years.

Countering Misperceptions

Recognizing the rise in anti-immigrant sentiment, IDA emphasized Ireland's welcoming nature while acknowledging pressure on housing and infrastructure.

"Unfortunately, the media disproportionately report on any protests or disturbances," presenting an incomplete picture.

Addressing Housing Challenges

Rapid population growth has strained the housing market, leading to "significant housing pressure."

IDA acknowledges the government's commitment to building 300,000 new homes by 2030, recognizing that "Housing is the Number One domestic policy challenge."

Ireland's Neutrality in Global Affairs

Despite Ireland's policy of neutrality, it has welcomed over 70,000 Ukrainian refugees since the start of the Russian invasion.

IDA emphasized the importance of balancing neutrality with humanitarian obligations.

Subsidies and the Tech Sector

Growing scrutiny of subsidies for Big Tech companies prompted concerns about potential job losses in Ireland's tech sector.

IDA emphasized that Ireland rejects "a subsidy race with other countries and regions" and that lay-offs in Ireland were proportionally less than in other countries.

Responding to Economic Headwinds

IDA acknowledged "increasing economic headwinds" but highlighted the relatively strong performance of the Irish tech sector compared to global trends.

Golfing Diplomacy

A "golf handicap analogy" was suggested to illustrate the risks of tariffs, highlighting that "ultimately you could be hindering its [the economy's] growth."

Tariffs can lead to "tit-for-tat reactions which can quickly spiral into trade wars," which is detrimental to all parties.