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Taoiseach Enda Kenny today delivered the keynote speech at the Irish Funds Industry Association Annual International Conference in the Dublin Convention Centre.

Speaking at the conference, Taoiseach Kenny said...

With close to 25 years expertise and experience, Ireland is proud to be one of the world’s leading locations for international investment funds. We value its excellent reputation and recognise its hardworking and dedicated workforce approaching 12,000 professionals whose knowledge is recognised world-wide. All these factors contribute to the continued increase in the number of funds and assets being domiciled and serviced by the industry in Ireland. I am informed that during 2010 the industry grew by over 30% when the value of funds administered rose from €1.4 trillion in 2009 to €1.88 trillion at the end of 2010.

The Taoiseach also said...

today we recognise the importance of the international finance sector. We will ensure that the environment for the development of international financial services and, in particular, investment funds, continues to offer significant opportunity. This potential will be achieved as Ireland continues to provide solutions and opportunities to the international funds industry.

The promotion and support of international financial services is central part of the recovery strategy of this Government. In order to maintain Ireland as a leading international fund jurisdiction, a specific legislative framework and developments in the tax and regulatory environments are areas for consideration.

An important feature of the funds industry has been the significant involvement of the Irish authorities with our counterparts in Europe. Recent EU legislative developments present opportunities for the European industry, where global players seek to use a European base for their international business. We in Ireland, the authorities and industry, need to anticipate and prepare for these opportunities and we are.

We need to ensure that Ireland is the obvious and first choice for the domiciling and distribution of funds.