This week I returned once again to London to promote Ireland as a location for financial-services companies eyeing up possible relocation post-Brexit.
Over recent months we’ve been visiting locations across the world to press the case for Ireland as the location of choice for international financial-services companies seeking access to the Single Market. That effort, and our showcasing of Ireland at the recent European Financial Forum in Dublin Castle, is all about bringing sustainable and high-value jobs to both Dublin and the rest of the country.
Central to this particular visit was promoting the case for Dublin as the next location for the European Banking Authority, which is currently based in London’s Canary Wharf.
You can watch an early morning interview with Bloomberg, here.
I told City AM that we are on track to meet the target in IFS2020 of an additional 10,000 financial-services jobs in the five years to the end of 2019 and explained how we have stepped up our ambitions in the wake of Brexit.
You can read the full piece, here.
Read the IFS2020 strategy and our Action Plan for 2017 here.
OVER 700 delegates attended the European Financial Forum at Dublin Castle and it was a privilege to host such a successful event, which brought international leaders from the world of finance. It was a timely opportunity to showcase what we have to offer financial services companies as an English-speaking and pro-business country with access to the EU’s single market.
As I told the Irish Times in an interview ahead of the Forum’s opening, it marked the beginning of the next phase, in which Ireland steps up its efforts to attract financial services and Fintech companies who are looking to relocate from the UK as the possible implications of Brexit become clearer.
I added: “We must now act to increase the size and capacity of Ireland’s financial sector in order to meet the needs of the European single market.”
As Minister of State with responsibility for Financial Services, I am working tirelessly to bring business and high-value jobs both to Dublin and to our regions, where so many companies are already thriving and growing.
Speaking to the blog levaris later in the week, I explained that our 2017 Action Plan for the implementation of IFS2020, our financial services strategy, placed particular emphasis on both the challenges and opportunities presented by Brexit.
The vision is to make Ireland the global location of choice when it comes to specialisation and innovation in financial services. IFS2020 will help us to make those gains and really position us internationally as a place to set up and avail of a suite of innovative and cutting-edge financial services products.
Read the full levaris interview here.
And the Irish Times interview here.
In January I undertook a four-day trip to Beijing and Hong Kong to promote Ireland’s financial services (IFS) sector, during which I met officials in the Chinese Ministry of Finance, the People’s Bank of China and the Asian Infrastructure Investment Bank, amongst others.
I spoke at the Asian Financial Forum in Hong Kong on the subject of cyber-security and payment technologies and outlined the role and strength of indigenous Irish FinTech companies, which are playing a vital role as our IFS2020 Strategy continues its progress towards the creation of 10,000 new financial services jobs in the five years to the end of 2019. Take a look at some photos here, here and here.
The China visit was the latest in a series of overseas engagements at which I and my team have been promoting ‘IFS Ireland’, a task that has assumed even greater importance for our country in view of Britain’s forthcoming departure from the EU.
Read more on my trip to Beijing and Hong Kong here.
During a recent trade mission to London I did a Bloomberg interview about our financial services post-Brexit. The trip was focussed on promoting Irish Financial Services and advancing the IFS 2020 Strategy which aims to increase jobs in the sector by 10,000.
You can watch the video here.
IN an interview with Reuters this week, I outlined how the Government is engaging with financial services firms that are eyeing up Ireland as a possible base after Britain leaves the European Union. Attracting businesses here is, of course, key to our job-creation strategy.
Speaking in London at an Irish Funds conference to promote Dublin’s financial sector, I revealed that the Central Bank here has already held “pre-application” discussions for licences from a number of financial firms based in London.
While emphasising that “This isn’t about taking advantage of a difficulty that the UK is in,” I added: “We (in Ireland) do recognise that businesses will have needs as a result of Brexit and we are here to help manage those needs.”
The Government is especially keen to attract companies in the emerging financial technology sector.
I explained that we are working hard, in co-operation with the private sector, to develop more office space and enhanced transport links to Dublin’s suburbs.
My full interview with Reuters can be read here.
Recently I travelled to New York to officially launch the IFS IRELAND banner brand in the United States. This is an action under the IFS 2020 Strategy with the goal of positioning Ireland as the destination of choice for specialist financial services and innovation. I also attended World Bank and IMF meetings in Washington DC.
To read more about my trip, go here.
As reported by Suzanne Lynch in the Irish Times on 10th October 2016.
‘Minister of State Eoghan Murphy has defended the Government’s efforts to attract companies to Ireland post-Brexit amid reports that Germany is leading the way in luring London-based finance activity to Frankfurt and other German cities.
‘Speaking on the fringes of a meeting of euro zone finance ministers in Luxembourg, the Minister of State for Finance said he expected at least two announcements by the end of this year from companies intending to expand in Ireland, with further announcements in the pipeline for next year.’
Continue reading here.
European Movement Ireland have launched a campaign encouraging British people in Ireland and Irish people living in Britain to register to vote for the ‘Brexit’ referendum in June.
To find out more or spread the word about registration go here.
We have one week left of the General Election 2016 campaign. Things are going well in Dublin Bay South, we’re getting a great response on the doors and out and about.
We are on the bridges, doorsteps and everywhere else, meeting people every day. If you’d like to join us please email me at email@example.com or call Alan on 086 233 9121.
The next week will be very important to ensure we have a stable Government to keep Ireland on track and continue to grow the economy.
I have sent a letter to voters in our area which is being distributed across the constituency right now.
It is a brief summary of what I have worked on during my time in the Dáil, my priorities if re-elected and what this election means for the country.
You can read the full letter here.