Latest news with #ForeignDirect
RTÉ News
12 hours ago
- Business
- RTÉ News
IDA Ireland secures 179 investments in first half of 2025
The number of investments into Ireland by foreign multinational companies increased by almost 37% during the first six months of the year compared to the same time in 2024. IDA Ireland's mid-year results show there were 179 investments secured between January and the end of June, up from 131 over the same period last year. The inward investment agency says the projects will lead to the creation of just over 10,000 jobs, an increase of 12% on the 8,900 jobs generated in the first half of 2024. The IDA says balanced regional development is continuing, with 91 of the Foreign Direct Investments in the year to date in regions outside of Dublin. The figure represents 51% of the overall number of projects secured in the first half of 2025. Of the 179 investments between January and the end of June, 52 or 30% of the companies announced investments for the first time here. 41 of the investments are expansions from existing IDA client companies, 43 relate to research and development, while 34 are in the areas of green capital and sustainability. Despite ongoing global uncertainty over trade and tariffs, the CEO of IDA Ireland said FDI is "holding very strong." Michael Lohan said the mid-year results point to the country's "resilience in the face of continuing global economic uncertainty." "Today's figures demonstrate Ireland's continued attractiveness as a trusted partner and a proven investment location, speaking to our many strengths in areas such as innovation and talent as well as our stable, pro-enterprise business landscape," the IDA CEO said. Mr Lohan also pointed to substantial investment in critical areas such as R&D, digitalisation, sustainability and talent development. While IDA clients pledged during the first half of the year to create 10,003 jobs, the data released today does not take into account job losses at multinationals during the period. Michael Lohan said the agency does not "tot up the net job losses until year end" and it said it would be "premature to make any comment" at the mid-point of the year. He said the indicators for the remainder of the year are positive, with a "strong pipeline of investments, but added that the IDA expects a softening in job creation over the coming months. "We won't see the same level of job creation for the second half of the year," Mr Lohan said. "That's not unusual. The first half tends to be the strongest half in terms of investment numbers. But we're still seeing a strong pull through," he added. And he said site visits by foreign companies remain "quite strong," with the figure up 14% year on year from last year." While the uncertainty over tariffs is creating a challenging trade environment, the IDA boss said global companies "need to make investments to serve global markets." Michael Lohan said Ireland is a proven location, which offers "stability and clarity and certainty." "I've consistently heard a message from large multinationals, and that is, they are international companies in nature. They require global supply chains, and they're going to continue to invest in global supply chains," he stated. Mr Lohan said while the current discussions around tariffs and global trade is "undoubtedly" leading to some levels of uncertainty, he said the principle of international markets, international supply chain, international investment still remains. "I think we're going to continue to see that, albeit we have to get through the current negotiations in terms of global trade," he added. The IDA also said Ireland needs to ensure continued competitiveness across cost and regulation. The agency said the delivery of infrastructure, including housing, energy, the grid, water and transport, is critical. The Minister for Enterprise described the IDA mid-year results as "a very strong performance." "It's great to see that we have a very strong performance, but obviously there is very significant uncertainty around the geopolitical landscape," Peter Burke said. He said getting a resolution to the talks on tariffs is "key for decision makers" across the economy in getting investments over the line. In terms of the domestic challenges, Minister Burke insisted the Government was "essentially controlling the problems that we can." "That's why we're going forward with our competitive action plan across the month of July, which will be key to ensure that our value proposition remains strong as a country," he stated. "We have to ensure we're investing in capital expenditure and it would be critical that we get a strong performance through our national development plan review," he added.
Gulf Today
3 days ago
- Business
- Gulf Today
Saudi Arabia's net foreign direct investment falls 7% in Q1
The Saudi General Authority for Statistics reported on Sunday that Foreign Direct Investment (FDI) inflows reached SAR 22.2 billion (USD 5.9 billion) in Q1 2025, while the unemployment rate declined to 7.8%. The data indicated a 44 percent increase in FDI inflows compared to the same period last year, when it amounted to SAR 15.5 billion (USD 4.1 billion), despite a 7% decline compared to the fourth quarter of 2024, which recorded SAR 23.9 billion (USD 6.4 billion). FDI inflows into the Kingdom totaled SAR 24.0 billion (USD 6.4 billion) in Q1 2025, reflecting a 24% year-on-year increase but a 6% drop compared to Q4 2024. In the labour market, the data showed a decline in the overall unemployment rate for individuals aged 15 and older to 7.8% in Q1 2025, compared to 8.5% in Q4 2024, 3.7% males, and 18.4% females. The Authority reported Saudi unemployment falling to 7.6%, down from 8.4%, with male unemployment sliding from 5.1% to 4.7% and female easing from 14.3% to 13%. The labour force participation rate for Saudis stood at 47.6%, with 66.6% for males and 35.4% for females, while the employment-to-population ratio was 92.4%. The data showed that the majority of Saudi job seekers are in the 20-29 age group, with the highest numbers in Riyadh, Makkah, the Eastern Province, Aseer, and Qassim. WAM
India Gazette
4 days ago
- Business
- India Gazette
71% of manufacturing MSMEs say govt-skill training schemes didn't help: Report
New Delhi [India], June 29 (ANI): The government skill and talent initiatives are not effectively reaching the Micro, Small and Medium Enterprises (MSMEs) engaged in the manufacturing activities, as a staggering 71 per cent of small firms say government-run skill-training programmes haven't helped them, according to a report by Cushman & Wakefield. The report observed that approximately 61 per cent of MSMEs stated that government skill and talent initiatives had not reached them, while 39 per cent affirmed that they had received benefits. 'Our survey indicates that government skill and talent initiatives aren't reaching the sector effectively. The gap is widest among small firms; 71 per cent say government skill-training programmes haven't helped them,' the report titled 'Elevating India's Manufacturing Resilience: Charting the Path to Self-Reliance' added. The size of the small firms in the survey was less than 500 employees. MSMEs employed four of every five manufacturing workers and produced 40 per cent of the sector's output. Yet each worker in an MSME generates only 14 per cent as much as a worker in a large plant, the report added. Similar manufacturers in emerging economies have reached almost 30 per cent; in advanced economies the gap is even smaller, the report observed. Apart from various skilling schemes, the government has earmarked Rs 2,500 crore for 12 sector-specific plug-and-play parks to speed plan setup, slash capex, help SMEs and attract Foreign Direct Investments. On the other hand, about 88 per cent of survey respondents said that government infrastructure spending has influenced their capex plans. The 93 per cent of respondents report better operating efficiency and profitability where modern parks and corridors are in place. Notably, 88 per cent of respondents plan to expand operations, driven by infrastructure projects like Bharatmala, Sagarmala, Dedicated Freight Corridors, and the National Industrial Corridor Development. 'India must address deep-rooted cost and capacity gaps--especially in logistics, integrated facilities, and MSME productivity. Plug-and-play industrial parks, multimodal logistics networks, and improved land aggregation frameworks are not just enablers; they are essential levers for converting policy momentum into production-ready outcomes,' said Gautam Saraf, Executive Managing Director, Mumbai & New Business, Cushman & Wakefield. Additionally, 95 per cent reported improved access to logistics, while 94 per cent of large enterprises credited infrastructure upgrades as central to their growth strategies. Despite these advancements, critical challenges persist. High logistics costs, low warehousing capacity (0.2 sq. ft. per urban resident vs. 47.3 in the U.S.), minimal domestic value addition (17 per cent vs. China's 25 per cent), and skill gaps, especially in MSMEs, threaten long-term competitiveness. (ANI)
Time of India
21-06-2025
- Business
- Time of India
SGCCI submit demands related to QCO
Surat: In a meeting with senior officials of the textile ministry in New Delhi, various demands related to the quality control order (QCO) were discussed by officials of the Southern Gujarat Chamber of Commerce and Industry (SGCCI). The meeting was organised by the ministry, and various stakeholders were invited to discuss issues. The meeting was chaired by the commissioner of textile, M Beena. Representatives from textile machinery manufacturers and user industries from across India, the Confederation of Indian Textile Industry (CITI), SGCCI, and others were present at the meeting. SGCCI was represented by vice president Ashok Jirawala, former presidents Vijay Mewawala and Ashish Gujarati, who submitted recommendations. It was suggested to the ministry that Europe, China, and Japan are the global leaders in textile machinery. To develop the textile machinery industry in India, it is necessary to study two factories each from Europe and China, and one from Japan. The study should cover how these manufacturers determine parameters for textile machinery design, the standard operating procedures they follow for manufacturing, the kind of facilities and locations they have for making machine components, if they have intellectual property protection for their sub-assemblies and components, and whether they have in-house laboratories to test machine performance parameters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Neues Produkt hilft tausenden Deutschen bei Gelenkschmerzen Medizinmonitor Jetzt lesen Undo SGCCI suggested forming a task force to conduct this study, which should include members from the user industry as well. Additionally, to reduce the import of textile machinery, the SGCCI submitted suggestions that 100% Foreign Direct Investment (FDI) approval should be given to top-level global original equipment manufacturers to start manufacturing in India. The central govt should formally invite them. SGCCI further suggested a production-linked incentive scheme should be introduced specifically for textile machinery manufacturing. Research and development facilities of large Indian companies should be leveraged to design world-class textile machinery in India. Manufacturing should take place through joint ventures with Surat's textile manufacturers. GST on textile machinery should not exceed 12%. Regarding impact assessment, the SGCCI stated that any funds utilised for the development of textile machinery in India should be evaluated by comparing the value of machinery developed domestically and the subsequent reduction in imports against the funds spent.
Business Recorder
20-06-2025
- Business
- Business Recorder
Tax officials' new powers: FPCCI mulling moving the court
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has unequivocally rejected the new powers granted to tax officials in the recently announced Federal Budget, branding them as 'excessive, overly-subjective, and harassment-prone.' During a press conference in Karachi, FPCCI leadership announced their intention to challenge these authorities in superior courts, specifically those enabling taxmen to withdraw funds from business accounts and conduct raids on business premises without prior notice. The FPCCI leadership urged the federal government to withdraw these stringent measures before the budget's final passage from parliament to restore confidence within the business community. FPCCI President Atif Ikram Sheikh emphasized that tax collection targets can only be met if industrialists and exporters are actively engaged through a comprehensive consultative process. He lamented that the budget largely overlooks the necessary steps to empower the business community to realize the Prime Minister's vision for export-led growth. Sheikh further elaborated on a globally established principle: increased intervention or interaction by tax collectors with taxpayers tends to undermine fairness, transparency, and impartiality, as heightened human-to-human interactions and subjective human judgments become a source of nuisance. Saquib Fayyaz Magoon, Senior Vice President of FPCCI, demanded the restoration of the Fixed Tax Regime (FTR) for exporters in its original form and for a long-term duration. This, he argued, is crucial for bringing clarity, certainty, and consistency to taxation policies, thereby attracting both Foreign Direct Investment (FDI) and domestic investment by ensuring Pakistan remains competitive as a country. Magoon also highlighted the necessity of broadening the Export Facilitation Scheme (EFS) to include local manufacturers, warning that without such inclusion, Pakistani products would face supply line disruptions and a lack of competitiveness in regional and international markets. He further expressed resentment that the FPCCI's recommendations for special incentive packages for the high-growth Information Technology, mines & minerals, and fishing industries were disregarded in the Federal Budget. FPCCI Vice President Asif Sakhi urged tax authorities to cease accusing the business community of tax evasion or theft. Instead, he called for a transformation of the tax machinery into a facilitative body that engages with taxpayers through amicable and respectful behaviour. During the press conference, FPCCI Vice President Aman Paracha proposed the formation of a high-powered fact-finding committee to ascertain the root cause of the FBR's inability to achieve the tax collection target for fiscal year 2025. Vice President Nasir Khan highlighted a concerning trend, stating that many businessmen have already relocated to more lucrative and stable investment, trade, and industrial destinations, while those remaining are struggling to operate their factories without incurring losses. Another concern raised by the FPCCI was the restriction imposed on Special Economic Zones (SEZs) developers for a period of 10 years or until tax year 2035, whichever comes first. Copyright Business Recorder, 2025
