Ireland is one of the most open economies in the world particularly for attracting investment from foreign companies, according to a global business representative body. The International Chamber of Commerce ranked Ireland as the fifth most open economy in the world out of 75 nations evaluated, Yahoo reported. Ireland stood out as having the highest level of openness for foreign direct investment and also performed strongly in relation to its trade policies. Its weakest ranking was for trade-enabling infrastructure where it placed in the “upper-middle range”.
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