merrion street

On the second full day of his investment and trade mission to China and Japan, the Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, earlier today [Tuesday] announced the opening of a new IDA office in Beijing, which will focus particularly on attracting more investment and jobs in the financial services sector from China to Ireland. IDA already has offices in Shanghai and Shenzhen.

The results of today’s programme of meetings also included an agreement signed by IDA with the China Investment Promotion Agency [CIPA]. This Memorandum of Understanding commits both sides to enhanced cooperation on a range of issues.

Minister Bruton also held meetings today with executives from ICBC, the largest bank in the world by market value, and the China Development Bank [CDB]. An agreement is also expected to be signed tomorrow by IDA with China Development Bank committing both sides to enhanced cooperation on a range of issues, and Minister Bruton is also scheduled to address a significant financial services seminar in China’s capital city, attended by over 100 financial services professionals.

The second full day of Minister Bruton’s programme of meetings and events also included:

· A meeting with the Chinese Minister for Commerce, Gao Hucheng. The China Investment Promotion Agency, the equivalent agency of the Chinese Government to IDA Ireland, was also represented at this meeting, at which the Memorandum of Understanding with CIPA was signed

· Meetings with two IDA client companies in the financial services sector, including the China Development Bank

· Three events organised by Enterprise Ireland, including:

o A breakfast roundtable on doing business in China, attended by Irish companies seeking to break into the Chinese market as well as businesspeople with experience of successfully doing so

o A Travel Technologies Showcase, including Irish technology companies and their Chinese partners with presentation by keynote speaker representing Chinese Hospitality Industry

o A meeting with an EI client company and its Chinese partner in the ICT sector.

Among the other achievements of the mission so far is a signing of a Memorandum of Agreement between Shenzhen University and UCD on establishing a joint International College in Health Sciences Innovation.

Speaking following the conclusion of the day’s events, Minister Bruton said:

“A key part of the Government’s Action Plan for Jobs is targeting key growth markets where we have the potential to deliver large increases in exports and multinational investment in the coming years. Clearly China is a key part of that, and that is why since the Taoiseach and I led a major mission here last year four Ministerial-led missions have taken place with more to come. That is also why we are delivering on our commitments on the ground, and today I am delighted to announce the opening of a third IDA office in China to focus on financial services.

“The meetings I have had today with some of the biggest financial services institutions in the world, and the agreements signed with major Chinese Government bodies show the potential that exists for investment and jobs for Ireland in this sector. I am determined that with the right decisions from Government we can help increase exports and investment in this high-growth market and create the jobs in Ireland we need”.

NOTES FOR EDITORS

The Action Plan for Jobs includes a commitment by Government to carry out an intensive programme of Ministerial-led trade and investment missions. Since the Plan was launched in early 2012 the number of trade missions led by Enterprise Ireland, for example, has doubled, from an average of 8.5 (2007-2011) to an average of 17 (2012 and scheduled for 2013).

This is Minister Bruton’s 15thmajor trade/investment mission in 28 months since taking office in March 2011.

The 14 previous missions undertaken comprise:

· Five IDA investment missions to the USA, two to the east coast, two to the west coast and one encompassing the East Coast, South and Mid-West

· Five Enterprise Ireland trade missions, one to Texas, one to the south-eastern USA, one to Saudi Arabia and India, one to Canada and one to France accompanied by hundreds of Irish companies looking to break into new export markets

· A 7-day joint EI/IDA mission to China led by the Taoiseach

· A 5-day EI/IDA trip to the west coast of the USA built around St Patrick’s Day 2012

· A 4-day mission to Germany around St Patrick’s Day 2013, and a 2-day mission to Germany around St Patrick’s Day 2011, including a series of meetings arranged by IDA Ireland, Enterprise Ireland, Bord Bia and Tourism Ireland.

New IDA Beijing Office

In line with IDA’s China Strategy, Beijing has been chosen as the location for a focus on International Financial Services.

Ms Joanne Zhou has been recently appointed to the position of Head of International Financial Services, China. She will be leading the new IDA office in Beijing which is to be located in the Irish Embassy.

Investment and Trade Mission Schedule

Extracts from Minister Bruton’s schedule:

Sunday 21st July – Hong Kong and Shenzhen

20.30 Meeting between Irish organisation and Chinese partner in education sector

Monday 22nd July-Shenzhen

08.30 – 10.00 Meeting with IDA target company, ICT sector

10.30 – 12.45 Meeting and lunch with IDA client company, ICT sector.

Includes meeting with Irish partner company.

13.45 – 15.00 Group Media Interview, Shenzhen

15.30 – 16.45 Meeting with IDA target company, medical devices sector

19.15 Depart Shenzhen for Beijing

Tuesday 23rd July - Beijing

07.30- 08.30 ‘Breakfast roundtable on Doing business in China’

09.15 – 10.30 Meeting with IDA client company, financial services sector

11.00 – 12.30 Meeting with IDA client company, financial services sector

13.30-14.30 Meeting with Ministry of Commerce Minister Gao Hucheng

15.30 – 16.30 Travel Technologies showcase –To include Irish technology companies and their Chinese partners with presentation by keynote speaker representing Chinese Hospitality Industry

16.30 – 17.30 Meeting Enterprise Ireland client company and Chinese partner (ICT sector)

18.30 Ambassador’s Dinner –Ambassador Kelleher to host a private dinner on behalf of the Minister focusing on key executives and Government officials in the Financial Services sector

Wednesday 24th July - Beijing

9.30 – 10.30 Meeting with potential Chinese partner for Irish companies (life sciences sector)

11.30-13.30 Ireland Financial Services Seminar

13.00 – 13.30 Meeting with IDA client company, manufacturing sector

13.30 – 15.00 Media Briefing, Beijing

17.22 Depart Beijing for Tokyo

Thursday 25th July - Tokyo

08.00 – 09.00 Breakfast briefing with Ambassador, representatives from IDA Ireland, Enterprise Ireland and the Ireland Japan Chamber of Commerce

09.30 – 10.30 Meeting with IDA/EI target company, technology sector

11.00 – 11.45 Meeting with IDA client company, financial services sector

12.00 – 14.00 Business Leaders lunch – For existing and target IDA and Enterprise Ireland clients in Financial Services sector

14.30– 15.30 Media Briefing

16.00 – 16.45 Meeting with IDA target company, ICT sector

17.15 – 18.00 Meeting with Ministry of Economy, Trade and Industry

Venue Ministry of Economy, Trade and Industry

18.20 – 18.50 Meeting with IDA client company, ICT sector

19.00 – 21.00 Business Leaders Dinner with IDA and Enterprise Ireland target and existing clients

Friday 26th July Tokyo

09.30 – 10.30 Meeting IDA target company, pharma sector

11.00 – 12.00 Meeting with Small and Medium Enterprise Agency

12.30 – 14.00 Lunch with Japan- Ireland Parliamentary Friendship League

14.30 – 15.30 Meeting with Enterprise Ireland client company and Japanese partner (financial services sector)

16.00 – 16.45 Meeting with Japanese company, financial services sector

18.30 – 19.00 Short Meeting with Mr Frank Sanda, president of JCI, and a member of the Global Irish Network

19.00 – 21.00 Business Reception with Ireland Japan Chamber of Commerce with Japan-Ireland Chamber of Commerce