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Taoiseach launches IFSC strategy for jobs

Taoiseach Enda Kenny today launched the Strategy for the International Financial Services Industry in Ireland 2011-2016, setting out a vision for the future development of the IFSC, with the goal of creating 10,000 net new jobs over the next 5 years. Speaking at the launch, the Taoiseach said...

Job creation and economic growth remain as critical today as they were when the IFSC was created in 1987. But unlike in 1987, today the IFSC builds from a position of strength. Among the hundreds of firms operating here are the biggest names in global finance. They have chosen Ireland and continue to invest here. As the world of finance changes, there is now an opportunity to grow further, for the sector to contribute to Ireland’s economic recovery.

We have built a position as a global leader, and the Government is committed to Ireland’s future as a financial services centre. The strategy reflects the support outlined in the Programme For Government for the development of the international financial services industry, subject to appropriate and responsible regulation.

The seven drivers of growth identified in the Strategy are:

  • Transparent and competitive direct and indirect tax framework
  • Credible, responsible and proportionate regulatory regime
  • Development of new business lines
  • Coordinated international engagement and marketing
  • Integrated support for investment and growth
  • Targeted development of appropriate skills
  • Sustained control of business costs

The Taoiseach added...

The target of 10,000 jobs is a credible estimate based on an expert assessment by those directly involved across access all sectors of the industry. The opportunities are real, the competitive strengths of Ireland are proven, and the capacity of the public authorities and the industry to cooperate to target growth opportunities is proven by the success of the industry to date.

The full statement can be viewed below...

The Taoiseach also took questions from the media...

Read the full press release here.

The following link is to a PDF fileThe full strategy can be read here (PDF 448kb)

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