Government’s tech investment strategy is correct – O’Keeffe

24 Nov 2010

The Minister for Enterprise, Trade and Innovation Batt O’Keeffe TD, has said the Government’s investment strategy for science, technology and innovation is “the right one” to generate economic recovery and cited the four T’s – track record, talent, technology and tax – as inviting propositions to multinationals.

The minister made the announcement today that the current investment strategy will create high-quality jobs as well as support the country’s economic recovery.

Despite the grave circumstances Ireland finds itself in, O’Keeffe contends that the country’s reputation and credibility remains intact.

Proposition to multinationals

“Despite the period of global recession over the past two years, Ireland’s value proposition to multinationals operating from Ireland has not changed. In fact, it has been enhanced.”

The minister cited our competitiveness and low corporate tax rate as key factors and that the decision of multinationals to locate in Ireland is a “vote of confidence in our ability to deal with our financial problems”.

“Ireland’s value proposition to multinationals is strongly based on what we refer to as the four Ts: track record, talent, technology and tax.

“It is important to point out that the countries against which Ireland competes for internationally mobile investment are continually improving their tax offerings.”

Ireland has recently been the subject of intense negotiations with IMF EU delegates who have put forward a bailout package somewhere in the region of €85m due to the Government’s handling of the economy.