An analysis of Ireland's success in attracting foreign direct investment (FDI).
Written in 2009; 1,359 words; 6 sources; APA; $ 45.95
Paper Summary:
The paper relates that Ireland has used foreign direct investment (FDI) as a strategic tool to foster development so well that it can be said that it wrote the best practices in this area. The paper outlines the evolution of FDI in Ireland and shows how Ireland's workforce, government taxation and bureaucracy, the U.S. leadership, the membership in the EU and the clusterization of high tech services all attracted multinational companies. Finally, the paper looks at the future of Ireland's growth.
"Ireland was one of the poorest countries in European Union (EU) two decades ago (Berry, 2001). In 2004, the country has been rated as the best place to live in the world by The Economist Magazine as a result of a "quality of life" survey, adding that Ireland wins because it successfully combines the most desirable elements of the new, such as low unemployment and political liberties, with the preservation of certain cozy elements of the old, such as stable family and community life" (BBC news channel, 2004).
"The country has used foreign direct investment as a strategic tool to foster development so well that it can be said that it wrote the best practices in this area. Currently FDI accounts for 65% of exports and roughly two thirds of total net manufacturing output (O'Connor, 2001).The authorities adopted measures meant to attract multinational corporations to locate their business inside the country, while keeping the state interventionism in economy limited. Competition and good market circumstances turned Ireland into an attractive business environment."
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