Brexit is influencing foreign direct investment (FDI) decisions regarding crucial life sciences and medtech projects in Ireland’s favour because firms in these sectors need a route to the EU market.
Meagher said that the medtech and life sciences industry in Ireland has recovered from initial fears around US president Donald Trump’s plans for tax reform.
“Because of the physical infrastructure that is here in terms of manufacturing and real boots on the ground in terms of high-end strategic jobs, Ireland will stand quite well and it has started to accelerate some of the decisions around investment.
“We are starting to see that uncertainty disappear and we know what the playing field looks like, and it is enforcing that investment.
“Brexit is forcing decisions because companies need a route to the EU market,” Meagher said.
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Words by John Kennedy