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Many leading global pharmaceutical companies are located in Ireland - Leaving Cert Business - Question 11 - 2021
Question 11
Many leading global pharmaceutical companies are located in Ireland. Outline two reasons why multinational companies locate in Ireland.
Worked Solution & Example Answer:Many leading global pharmaceutical companies are located in Ireland - Leaving Cert Business - Question 11 - 2021
Step 1
Access to the EU Market
Answer
Ireland's membership in the European Union allows multinational companies to benefit from access to the EU market. By locating in Ireland, companies can manufacture their goods locally and distribute them throughout the EU without being subject to tariffs or taxes. For instance, pharmaceutical companies can produce in Ireland and ship products to EU countries via ports like Antwerp in Belgium.
Step 2
Well-educated workforce
Answer
Ireland boasts a highly educated workforce, particularly in sectors such as IT and engineering. This availability of skilled labor is attractive to multinational companies. They can easily find qualified candidates, such as engineers and IT professionals, to meet their operational needs. Companies like Intel and Microsoft, for instance, have benefited from the strong pool of talent available in Ireland.