Majority recommend Ireland for investment

22 Oct 2010

Recently published research carried out among members of Integra International found more than 70pc of them would recommend Ireland as a location for investment and 38pc believed the global economy would begin to recover in 2011.

Irish Chartered Accountants and Recovery firm Hughes Blake has published research it carried out amongst members of Integra International, the global association of independent accounting and financial consulting firms, who are in Dublin for their Global Conference.

The research found that 71.6pc of Hughes Blake members would recommend Ireland as a location for investment, 55.6pc do not believe that the country’s reputation has suffered any more than other countries and cost competitiveness and workforce quality rank highly in the pole.

More than 200 delegates who advise up to 40,000 businesses around the globe are in attendance of the conference.

Improving competitiveness

Barry O’Leary, CEO of the Irish Development Agency (IDA), addressed the conference and credited Ireland’s improving competitiveness with attracting investments to the country.  

“I welcome the findings of this survey as they closely align with what IDA Ireland and its clients have been saying in recent times. Ireland’s improving competitiveness coupled with the positive elements of talent, technology, tax regime and our excellent track record in attracting foreign-owned companies all bode well for securing further investments into Ireland”.

“The findings of this report are very encouraging in that regard and I look forward to the members of Integra International here today communicating them on to global business leaders in their daily business,” he said.

Neil Hughes, managing partner of Hughes Blake, said: “We were pleasantly surprised by the findings of the survey which show that international sentiment to Ireland as a location for investment is not as negative as we might think. The research gives a very definite signal that Ireland is still considered a prime location for investment but clearly calls out the areas we need to focus on to maintain our attractiveness.”

Generally, the results were positive:
– 71.6pc would recommend Ireland as a location for investment.
– 55.6pc don’t believe Ireland’s reputation has suffered any more than other countries.
– Cost competitiveness tops the pole at 20.4pc when advising clients on locations for investment, followed by the regulatory environment and quality of workforce at 17.9pc. Tax environment was also high at 17.8pc.
– When asked what areas Ireland should focus on to increase its attractiveness to investors, commitment to low corporation tax rate was tops at 30pc; openness and ease of doing business at 28.5pc; and driving competitiveness and an educated workforce in joint place with 20.8 pc.
– 64pc believe the global economy is on the road to recovery and 38pc believe it will take hold in late 2011. Some 27pc believe it will happen in early 2011.

Hughes Blake is an accounting, audit and recovery firm with offices in Dublin and Enniscorthy, servicing more than 1,200 clients.