The chief executive of IDA Ireland has said recent events here have definitely done some damage to Ireland's reputation abroad.
But addressing delegates at an Irish Pharmaceutical Healthcare Association conference in Dublin today, Barry O'Leary said there is still quite a constant flow of foreign direct investment here.
Mr O'Leary said the situation has definitely been a challenge for the IDA, adding that Ireland has a lot to do on the international stage. He suggested that if the Government could find €30-50m, it should spend it on a major rebranding of Ireland in the international markets.
Mr O'Leary said that even between 2003 and 2008 when Ireland had real competitiveness problems it was still attracting FDI.
Now, he claimed, Ireland has improved its competitiveness. But he added that he would not underestimate the challenge of 'making sure we get back out there in a much more positive light''. Doing so, Mr O'Leary said, would mean spending significant funds.
Mr O'Leary cited the recent example of a meeting he attended in China with one of that country's largest financial institutions which is looking at Ireland.
He said at such key meetings, you typically have an hour, but in this case the first 40 minutes of the meeting was all about the Irish economic situation.
Mr O'Leary said that over the next few weeks, the IDA would begin a roadshow visiting the chief executives or chief financial officers of the top 65 foreign multinationals here, to reassure them that our corporation tax rate will not be changing.
