10/07/2002

IDA Ireland annual report reveals 2001 to be 'a tough year'

In its latest annual report, the investment and development agency IDA Ireland has said that last year was one of the toughest because of the downturn in global economies.

In its report, the agency reported a net job loss in companies it supported of 4,000 during 2001. According to the organisation, 17,500 jobs were lost with only 13,500 new jobs created.

The report also said that the Nice Treaty referendum was the most important vote for inward investment.

However, Chief Executive Sean Dorgan predicted that a return to job growth would begin next year.

Mr Dorgan told RTÉ radio that another rejection of the Nice Treaty would change investors' perception of Ireland and that the country would be seen as not being fully engaged in Europe.

(MB)


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