Donohoe calls on business executives not to cease Irish investment

Minister for Finance Paschal Donohoe has made an impassioned plea to international business owners and financial service executives not to lose sight of the Republic as a location for financial growth and investment following the outcome of the general election.

Speaking at the closing of the European Financial Forum in Dublin Castle on Wednesday evening, Mr Donohoe underlined that Ireland would continue to be a country where financial services can "continue to grow and flourish" in the years to come.

The Minister for Finance noted that many participants at the event must be “reflecting” on the Irish general election results and he strongly emphasised that country remained open for business.

“In the context of the general election” results, he said financial services would “continue to be an essential element of the Irish economy and economic model under the next Government and future Governments”.

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“... because as we look at the kind of change underway, and if we look at many of the debates taking place around economic models and the regulatory environment for financial services, I am confident that the approach that we’ve had here in Ireland, and in particular the investments that we have attracted and the growth that we have seen take place, will be supported and will continue in the years to come.”

Citing the impact of fintech (financial technology) on Irish economic growth, the minister added that the State was dedicated to the development these technological services both within Ireland and across Europe.

“Ireland will continue to be a voice within the EU for an open Europe, a competitive Europe, for a Europe that continues to grow its links and its business across the world.”

He noted that greater “political will and dynamism” was also needed to sustain financial development within the European economy, adding that Ireland would be “at the fore in pushing for that openness”.

“There is much change economically and politically in many different parts of the world and I know there are many here reflecting on that,” said Mr Donohoe.

“But as I look at where our country stands I am confident that we will continue to be a country within the EU that sees its heart in Europe, that sees its home within Europe and that will continue to provide an environment within which financial services, within which employment in financial services and investment in financial services can continue to grow and flourish.”