If anybody considers that there is a lot of entrepreneurial spirit in Ireland then they are totally and absolutely misguided. And no policy should be made keeping this misconception in mind, claimed an official.

There is no doubt that Ireland is one of the most industrialized nation of the developed world and industries alone account for 31 per cent of the GDP in 2009. But when taken into comparison with the EU area then it is only a quarter of the output of that region.

But when other nations like Germany were not performing well in the industrial side, Ireland continued to do well. And there is only one reason for the same- presence of foreign companies. The official reiterated that without their presence all the intent of the industrial world would become useless. It has been found that almost half of all those who are employed in the region are working with the foreign-owned companies.

Their hold and importance also goes upto the service sector and Ireland tops the league when it comes to this area. And if it surprising as to how much of employment is given by these industries then the look on the productivity is going to affect all. The turnover per employees of per worker in these companies was €1 million in 2009, said the CSO. For the indigenous companies, it was just quarter if that amount.