Foreign investment in Ireland has fallen by over 25 per cent, according to a new figures published today.
The Ernst & Young Investment Monitor, which tracks investment announcements in Europe, just 26 new investment projects in the first half of 2002, down from 28 per cent on the same period for 2001.
Investment in software and electronic industry fell by over 50 per cent, while pharmaceutical ventures were down by 40 per cent.
Ernst & Young's Mr Des McCann said Ireland had suffered disproportionately from the decline in outward investment from the US.
Mr McCann said the number of projects coming out of the US "continues to decline" and that Ireland's status as an attractive location for inward investment has also been affected by competition from countries in Central and Eastern Europe.