Foreign direct investment fell 20% in the area represented by the countries of the Organisation for Economic Co-operation and Development. Nonetheless, the effects of the US corporate tax cuts in 2017 that hit foreign direct investment across the OECD last year appear to be waning, it said. However, the OECD analysis also shows that the Irish figures do not mean there was any fall in foreign direct investment during the period. The confidential nature of the figures means it is unclear whether the debt flows mean Irish-based companies of multinationals were repaying debts to their overseas’ owners or were lending money to the parent groups. It said Japan, the US, and Germany were the largest sources of foreign investment worldwide.

Source: Irish Examiner October 29, 2019 05:37 UTC