International companies are beginning to increase their levels of investment in the State this year after three years of caution, according to the Irish Development Authority's (IDA) chief executive Mr Sean Dorgan.
"The slowdown of the past three years is over," Mr Dorgan said at the launch of the agency's annual report today.
"Substantial progress is beings made in securing the newer types of inward investment projects Ireland requires," he added.
According to IDA chairman, Mr John Dunne, foreign direct investment (FDI) markets were showing increasing buoyancy.
In the US, the main FDI market for Ireland, the pharmaceutical sector is expected to grow by 8 per cent to 10 per cent a year over the next five years, the medical technologies sector 5 per cent to 7 per cent and software 6 per cent to 8 per cent.
The report said Intel's recent €1.6 billion investment in Leixlip was evidence that international firms still find Ireland attractive and it went on to say a number of other top quality investments were expected to be announced over the coming weeks.
"IDA's work, more than ever, is about delivering quality projects, reflecting Ireland's position as a knowledge economy and we can confirm that up to 40 per cent of the new jobs negotiated so far this year are above the €37,000 per annum we consider defines high skilled employment." Mr Dorgan said.
However, the report also showed there was a net loss of 3,011 jobs last year in IDA supported companies.
