Ireland’s success in attracting significant foreign direct investment is related to the quality of research taking place in the country, the American Chamber of Commerce Ireland has said.
Large numbers of United-States-based foundations and universities are filing patents based on research activity arising in Ireland, the chamber said in a report on Ireland-America trade, released on 6 April. The report found that more than 700 US companies operate in Ireland. These companies contributed about $3 billion in research spending to the country in 2015.
Much of the success arises from a focus on two-way public private partnerships, with joint R&D projects carried out by Irish scientists and US company staff, the report found. This has resulted in a “big story for inward investment in both directions”, the chamber said.
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