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IndependentIRELAND has dropped out of the top 20 best countries for venture capital and private equity investment because of credit shortages and the lack of modern industries, according to a report by the Spanish-based IESE Business School and Ernst & Young.

The country fell to 21st place this year from 16th last year in a survey of 66 countries because business in Ireland is dominated by the retail, leisure and construction sectors rather than the new industries favoured by venture capitalists and private investors, the report said.

Ireland slumps in venture capital list - Irish, Business -