Speech by Taoiseach Micheál Martin on the occasion of the American Chamber of Commerce Thanksgiving Lunch November 27 2025

Distinguished guests, ladies and gentlemen.

Go raibh maith agat as an deis a bheith anseo libh inniu.

Thank you, Liz and Paul, for your kind invitation.

It is my pleasure to be here with you today to celebrate Thanksgiving, a day of great significance to our American friends.

Today, we gather not just to celebrate, but to acknowledge and be thankful for the extraordinary friendship between the United States and Ireland - a friendship that is deep, enduring, and mutually beneficial.

Ireland is proud to be a home away from home for so many Americans and American businesses.

The relationship between Ireland and the United States remains one of the strongest and most successful in the world.

It is built not just on investment or trade, but on something far deeper: powerful historical, social, and cultural ties.

Centuries of transatlantic migration have resulted in large Irish-American communities all across the U.S.

Today, almost 32 million people in the U.S. claim Irish heritage - nearly 10% of the population.

Our affinity was very evident in Dublin recently when we hosted our first ever NFL game, a momentous occasion enjoyed not only by the thousands of US fans who travelled, but the many, many Irish fans, including myself, who also attended and were equally enraptured by the historic occasion.

This Thanksgiving, it is a timely opportunity to reflect on our past and the deep historic relations between our people.

And as the U.S. prepares to mark 250 years since the signing of the Declaration of Independence, Ireland is proud to join you in commemorating that milestone.

It is a moment of global significance.

Three signatories of that historic document were born on the island of Ireland – and many more were of Irish descent.

Their contribution was part of a wider legacy of Irish and Scots-Irish influence on the early American Republic.

Through initiatives like America250, we acknowledge and honour that legacy, and the impact of the Irish and Scots-Irish on this defining period in US history.

Our historic and cultural links have given us more than a shared past, they have laid the foundation for the strong economic partnership that we enjoy today.

The United States is Ireland’s largest trading and investment partner – the value of our overall economic relationship now exceeds €1 trillion.

The benefits are real, flowing in both directions and supporting tens of thousands of jobs on both sides of the Atlantic.

While U.S. companies continue to play an important role in Ireland’s economy, including in key sectors such as pharmaceuticals, biopharma, medical devices and technology, (just this morning I had the honour of attending a celebration of forty years of Microsoft in Ireland), Irish companies too have built a remarkable and growing presence in the U.S with more than 200,000 people employed by almost 800 Irish firms across all 50 states.

Many Irish companies are also major customers of US manufacturers. Irish aviation firms, for example, are among Boeing’s biggest global clients, with over 900 aircraft on order.

At a time of turbulence in the global trading environment, it is essential to recognise not only the scale of our economic ties, but their strategic importance.

Ireland prioritises and contributes strongly to the EU-U.S. economic relationship, which remains the single most important economic partnership in the world.

Every day over $4.5 billion worth of goods and services cross the Atlantic between the EU and U.S.

European businesses have created and sustained 3.4 million jobs in the U.S.

These figures are truly remarkable.

Ireland will work to strengthen and deepen EU-U.S. cooperation during our EU Presidency next year.

There is much to collaborate on, not least on trade, digital policy, cyber, justice and home affairs, security and defence.

We will promote new channels for engagement on areas of shared priority and drive the competitiveness and simplification agendas.

We are fully aware of the competitiveness challenges Ireland faces. Improving our competitiveness and productivity has been a central focus of this Government.

We continue working to ensure that Ireland remains a trusted, stable and attractive location for businesses navigating a rapidly changing world.

That is why costs, planning, energy and R&D are core elements of our forward-looking policy agenda.Through the National Development Plan, the Action Plan on Competitiveness and Productivity, and the pro-enterprise measures announced in Budget 2026, we are strengthening infrastructure, supporting enterprise, and maintaining the certainty that investors consistently tell us they value.

Staying competitive is not a one-off achievement, it is a constant effort.

And Ireland is determined to stay ahead.

As part of the Budget process, I know that AmCham fed into the R&D consultation held earlier this year, and I want to thank you for your time, your expertise and your constructive engagement.

Engagement like this matters.

It helps to inform policy development and ensures that Ireland remains a place where companies can invest with certainty, innovate with confidence, and establish long-term roots in our economy.

I am fully cognisant of the importance of R&D as an economic activity in Ireland and the role it plays in driving growth and investment in the Irish economy. It fuels the development of new technologies and processes, driving productivity by enabling smarter, more efficient work - and this benefits us all.

Since its introduction in 2004, the R&D tax credit has evolved in response to business needs and stakeholder feedback. This is evident in the further increase in the rate to 35% announced in Budget 2026.

These enhancements send a clear message – Ireland is committed to supporting productive, innovative and future-focused businesses.

Our continued focus on innovation underpins some of Ireland’s most successful sectors. Nowhere is that clearer than in our Life Sciences cluster, where Ireland has established itself as a global leader

Over the past decade, more than €15 billion in new investment has been committed to biotech manufacturing facilities.

This scale of investment does not happen by chance, it is driven by Ireland’s exemplary regulatory compliance record, strong Government support, and our reputation for zero-defect biopharma manufacturing excellence.

Reflecting the value of this sector to our economy, the Government has committed to developing a National Life Sciences Strategy, our first, to ensure the sector remains competitive and to adopt a coherent and ambitious approach to future opportunities.

Work is already underway. Engagement with industry and stakeholders such as AmCham members is helping inform the scope and objectives of the strategy and ensure our approach reflects our strengths and the opportunities that lie ahead.

As I mentioned already earlier, I know that bridging the infrastructure gap is a key priority for AmCham, and it is a priority we share.

The need for reform is urgent. We must dismantle the long-standing barriers that have been a drag on progress.

The sluggish nature of parts of our system has become a major impediment, actively undermining our ability to deliver infrastructure efficiently and affordably. Without reform, we cannot meet our housing targets, our competitiveness will decline, and essential infrastructure - water, transport, and electricity - will remain vulnerable.

These are the foundations on which all other development depends – and we cannot afford delay.

Government will shortly publish an Action Plan proposing a series of focused, high-impact reforms aimed at accelerating delivery and improving outcomes.

A critical part of our infrastructure challenge is housing - another area of particular importance to AmCham members and one that is essential to Ireland’s long-term competitiveness and economic strength.

Scaling up the delivery of homes is an absolute priority for the Government.

We have made progress, but we know there is much more to do.

Our new housing plan sets out how we will build the homes people and communities across the country need by the end of 2030.

We will accelerate delivery through regulatory reform, tax incentives, and the largest ever capital investment in the history of the State - €275 billion in infrastructure over ten years through the National Development Plan.

It is an investment in homes, jobs, and the long-term strength of our economy.

At the same time, we are creating the conditions for a step-up in private sector delivery.

That means addressing barriers that hold back construction, supporting people in securing a home of their own, aiding renters, and tackling homelessness.

Already this year, the Government has delivered a Revised National Planning Framework, enabling the zoning of significantly more land, reforming Rent Pressure Zones, and revising Apartment Standards Guidelines.

Alongside a reduced VAT rate on apartments, these measures will make apartment construction viable and ramp up housing supply.

By working with partners like AmCham to strengthen housing, infrastructure, and innovation, we are securing Ireland’s competitiveness, and our future.

Your engagement on these issues of strategic national importance are a reminder of the depth, strength and resilience of the U.S. - Ireland relationship.

It is a partnership rooted in history and shared values, and powered by innovation, trade, investment and the extraordinary contributions of communities of both our great nations.

This Thanksgiving, we reflect on that relationship with gratitude - and we look ahead with ambition.

To all the members of the Chamber, thank you for your work in deepening the bonds between our two countries.

Ireland remains committed to working with you, our American friends and partners, to develop new opportunities and strengthen our economic ties.

Lá Altaithe sona daoibh!

Thank you, and I wish you all a very happy Thanksgiving.