The Chief Executive of the IDA has warned that some multinational companies may be forced to close temporarily due to falling demand for their products or services.

Martin Shanahan said companies are being impacted on both the supply and demand side.

"The demand issues have led some companies to scale back activities and in some cases that may lead to temporary closures in sectors where demand has decreased significantly and that is true in both the B2B side and in the business to consumer side," he said.

"There are some sectors that will need to ramp up production of important products and we are working with them to facilitate that."

He said the crisis had brought home that Ireland is hugely integrated in the global supply chains and the event has already had a significant impact on those supply chains.

"This is likely to escalate as the health impact of the virus is felt here and elsewhere," he said.

Ensuring those supply chains are kept open will be key, he added, and the presence of multinationals here would be vital to ensuring that over coming weeks and months.

He said the vast majority of foreign direct investment firms are open and operational, many working remotely, and the IDA will support them to remain doing so in line with public health advice.

Many FDI companies are well positioned to leverage technology, he noted, and have implemented remote working where possible.

But this is not possible in all cases, particularly those involved in manufacturing and he paid tribute to such workers who continue to go into work to produce goods and services, particularly those in medtech and pharmaceutical.

He also urged all companies to follow the public health advice and amplify that advice to the communities in which they operate.