Reliance on foreign direct investment ‘under scrutiny’ amid tech slowdown - Enterprise Ireland CEO

Leo Clancy has said that Ireland needs to prioritise growth from indigenous companies

Leo Clancy, chief executive of Enterprise Ireland, said that the state needs to support Irish firms regardless of the wider economic climate. Picture: Fergal Phillips.

Recent job cuts in the tech sector has put Ireland’s reliance on foreign direct investment (FDI) under scrutiny, the chief executive of Enterprise Ireland has said.

Leo Clancy told the Business Post that while job losses at large employers including Amazon, Meta, and Twitter have raised questions around the country’s reliance on FDI, the government’s strategy for economic growth should be to prioritise Irish-owned businesses regardless of economic circumstances.

“We should be home-grown focused and ...