IDA CEO: China important investor for Ireland

Added On May 11, 2019

Martin Shanahan, CEO of Industrial Development Authority, or IDA, Ireland, says China is an extraordinarily important source for Ireland's Foreign Direct Investment. Let's take a listen.
IDA Ireland is the agency responsible for the attraction and retention of inward Foreign Direct Investment into Ireland, and it plays an important role in Ireland's relationship with foreign investors.
"We have enjoyed excellent partnership with Chinese companies over many years. There are 25 Chinese companies which have already invested in Ireland. The Chinese investment is a key part of the strategy of IDA Ireland. Under our new strategy, now we plan to focus even more on Chinese investment into Ireland."
According to Shanahan, Chinese companies in Ireland mainly focus on technology and financial services. Some Chinese banks have also established their Irish branches.
He added that in recent years, Chinese companies have expanded their investment into more areas such as pharmaceuticals and biologics, which have also helped create hundreds of local jobs.