Enterprise Ireland is to recruit 20 new people in key markets such as BRIC (Brazil, Russia, India and China) countries as part of a strategy to increase exports by Irish companies by €250m, resulting in 1,200 additional jobs in Ireland.
The 20 new executives will be recruited locally on fixed term contracts.
The plan represents a 14pc increase in the number of Enterprise Ireland staff in overseas offices.
The move is calculated to directly support the creation of 1,200 jobs in Ireland by boosting exports by €250m annually.
The measure is part of a number of steps taken as part of the Irish Government’s Action Plan for Jobs.
It follows other measures such as the establishment of a Potential Exporters Division in Enterprise Ireland, the putting in place of €2bn worth of credit programmes for Irish companies, and tax deductions as part of the Foreign Earnings Deduction announced in the Budget to incentivise companies targeting BRIC countries in particular.
As well as the BRIC countries the resources will also be allocated to countries in Asia and the Middle East.
Enterprise Ireland’s director in charge of International Sales and Partnering said it is vital that Irish companies increase exports in high growth markets.
“We will commence the recruitment process within the selected markets over the coming weeks and expect people to be operational by the fourth quarter,” Sherry said.
Impressive growth led by export companies
The Minister for Jobs, Enterprise and Innovation Richard Bruton TD said that while the multinational sector is and will remain key to Ireland’s employment growth, a relentless focus on accelerating exports and growth among Irish companies is crucial.
“These businesses have delivered impressive growth in jobs and exports over the past two years, with more than 3,000 jobs added in 2012 – however if we are to create the jobs we need we must build on and accelerate that trend.
“That is why we are adding over 14pc to the number of Enterprise Ireland staff in overseas market, in a move targeted particularly at the BRICS countries as well as other high-growth markets outside Europe. This is part of a strategy to target export growth to these markets which has included tax incentives for companies to place ‘boots on the ground’ in these markets as well as improvements to Government supports to these companies.
“On trade missions since taking office I have seen first hand the excellent work that Enteprise Ireland and the companies it supports are doing in overseas markets. This move will mean even better supports for more companies, ultimately delivering €250m in additional exports and 1,200 jobs for Ireland,” Bruton said.
Shanghai skyline image via Shutterstock
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