Competition for inward investment is increasing, with Ireland being forced to compete with some of the most powerful economies in Europe, the Industrial Development Authority said in Dublin: chief executive Kieran McGowan said that Ireland is in third place after the UK and France for all inward investment – not bad for a country which is only 1% of the population of Europe – but he told an Irish Business and Employers’ Confederation round table on industrial policy that competition is getting stronger, both from new countries like the Czech Republic and from developed countries like Germany and France; more and more IDA clients have only two requirements – people and telephones – Just to stay up with the rest of Europe in terms of telecommunication services and costs would require an investment of UKP1,000m over the next five years and a reduction in Telecom Eireann’s debt servicing and staff costs of UKP350m a year, he warned.
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