Ireland Sees ‘Very Challenging’ 24 Months for Foreign Direct Investment

Ireland Sees ‘Very Challenging’ 24 Months for Foreign Direct Investment
CEO of IDA Ireland Martin Shanahan speaks at a European Financial Forum event in Dublin, Ireland, on Feb. 13, 2019. Clodagh Kilcoyne/Reuters
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DUBLIN—The coronavirus pandemic is likely to significantly reduce global foreign direct investment flows into 2021, creating a “very challenging” 24 months for a key part of Ireland’s economy, Industrial Development Authority (IDA), the state foreign investment agency  said on Wednesday.

IDA Ireland said it had secured 132 investments with the potential to create 9,600 jobs so far this year, down from 140 investments and a record 13,500 potential jobs in the same period last year.