IDA Ireland expanding overseas offices, Richard Bruton tells Dáil

Fianna Fáil’s Dara Calleary suggests greater concentration on growing markets

Minister for Jobs, Enterprise and Innovation Richard Bruton.

Minister for Jobs, Enterprise and Innovation Richard Bruton.

 

IDA Ireland has been expanding its overseas offices, Minister for Jobs, Enterprise and Innovation Richard Bruton has said.

“Although IDA Ireland does not have an office in the Middle East, I am informed that its growth markets in Dublin, in conjunction with its international financial services division, works with the embassy network in the region to identify and target prospective client companies, particularly in the growth area of Islamic finance,’’ he added.

He said last year offices were opened in Korea and Beijing, with one staff member in each. This year, an additional office was opened in Texas, with two staff members.

In 2011, the agency ceased to have a presence in Taiwan, which was now managed from China, he added.

Mr Bruton said Brazil, Russia, India and China formed the core area of the agency’s growth markets strategy, together with the ASEAN region, comprising South Africa, Japan, Korea, Australia and New Zealand.

There were three offices in China and two in India, as well as a presence in Moscow and Sao Paulo in Brazil.

He said that in the past three years, the agency had secured an emerging base of investments from India and China and was integral in facilitating the acquisition of Air Atlanta’s aero-engineering facility at Shannon by the Russian airline Transaero.