Overseas investment up 2.5% as IDA issues new warning over Irish infrastructure

IDA Ireland hails ‘strong annual results’ despite domestic and global challenges

Michael Lohan, IDA chief executive: ‘Strong’ annual results 'against a backdrop of the global tech reset and severe global headwinds’. Picture: Maxwells

Investments from multinationals in Ireland increased 2.5 per cent last year, in what the state’s inward investment agency called “strong annual results” despite the country’s struggle to speed up the development of critical infrastructure.

IDA Ireland’s annual report, published on Friday, showed there were 248 new investments into the country in 2023, of which a third – 83 – were first-time investments.

The overall figure was up 2.5 per cent on 2022’s figures, with the agency noting that the results showed “steady levels of employment across the foreign direct investment (FDI) sector”.