IDA Ireland to open Beijing office, signs deal with China Investment Promotion Agency

23 Jul 2013

Ireland’s investment agency IDA Ireland is opening a new office in Beijing, China, to focus on attracting more investment and jobs in the financial services sector from China to Ireland.

IDA Ireland already has two other offices in China, in Shanghai and Shenzhen.

Ireland’s Minister for Jobs, Enterprise and Innovation, Richard Bruton, TD, announced the new office on the second day of his investment and trade mission to China and Japan.

“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,” said Bruton.

“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,” Bruton added.

“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.”

Agreements signed

Day two of the mission also resulted in the signing of a memorandum of understanding between IDA and the China Investment Promotion Agency [CIPA] to enhance co-operation on various issues.

Bruton also held meetings today with executives from ICBC, the largest bank in the world by market value, according to IDA, and the China Development Bank [CDB].

IDA and CDB are expected to sign an agreement tomorrow, committing both sides to enhanced co-operation on a range of issues.

Bruton is also scheduled to address a financial services seminar in China’s capital city, to be attended by more than 100 financial services professionals.

Other achievements of the mission so far include the signing of a memorandum of agreement between Shenzhen University and University College Dublin on establishing a joint International College in Health Sciences Innovation.

Beijing image via Shutterstock

Tina Costanza was a journalist and sub-editor at Silicon Republic