Thomas Donohue, the president and chief executive of the U.S. Chamber of Commerce

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Ireland is “ripe for a strong economic recovery”, according to Thomas Donohue, the president and chief executive of the U.S. Chamber of Commerce.

The lobby leader said that leading American business leaders and financiers believe that Ireland is doing well in comparison to our European counterparts.

“I’m not saying that the numbers are that much better, but I’m saying that the potential for getting back and getting back soon, fast and in a hurry is that much greater,” Mr Donohue  told the The Irish Times.

The Chamber of Commerce president is about to embark on a one day visit to Ireland from Washington DC, where he is based.

He admitted that Ireland has suffered during the “global economic squeeze” but the Irish have a lot of advantages such as developed infrastructure and skilled workers.

Maintaining it’s low corporation tax is also a big advantage for the country.

“The Irish have what it takes. They have a good tax system, a great workforce, a good geographic location, good partners and investors. I think they are going to come out of this just fine.”

Donohue decided to visit Ireland during his scheduled trip to World Economic Forum in Davos, Switzerland this week.

During a breakfast meeting in Washington with the Irish Ambassador, Michael Collins, the chief executive praised Ireland for not raising the corporation tax rate and added that Ireland is still attractive for foreign investors.

He told the Ambassador that his visit to Ireland was a bid to repeat the message that Irish shores are a great location for American investors.

He added that U.S. corporations are more worried about what has been happening in their own economy rather than Ireland.

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