Martin opens IDA Ireland office in China

Irish
Martin opens IDA Ireland office in China
By Finfacts Team
Jun 30, 2006, 12:22

Shanghai office to provide Chinese companies with advice and support for success in Europe

Minister for Enterprise, Trade and Employment Michéal Martin today opened IDA Ireland’s first office in China. Through this office, IDA Ireland will unlock a gateway for Chinese companies to expand and develop their businesses in Europe. Ireland has consistently proven to be the preferred location in Europe for global companies successfully serving the lucrative European market.

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Chinese worker erecting New Year decorations. in 2004, the US magazine BusinessWeek estimated that the average hourly wage in China was 64 US cents Photo: China Daily

Minister Martin said "The Irish economy has performed very strongly over the past number of years and is much admired internationally. The level of foreign direct investment in Ireland is proportionately one of the highest in the world. Today, over 1,200 overseas companies have substantial international operations in Ireland. These include many of the leading companies in information technology and communications, life sciences, international services, and financial services."

IDA Ireland has 13 offices around the world. In Asia, IDA Ireland operates in Taipei, Seoul, Tokyo and Sydney. IDA Ireland's new Shanghai office will focus on helping Chinese companies to realize their global aspirations by targeting the European market.

"We are extremely pleased to celebrate the establishment of our first office here in Shanghai. The resources of IDA Ireland are now available to assist Chinese companies who want to move to Europe," said Gus Jones, Director of IDA Ireland-China. "We are confident that this is the beginning of a win-win partnership with the Chinese business community to match the best of Irish capabilities and talents to the needs of Chinese investors."

Ireland offers many benefits to overseas companies who chose to use the country as their European base of operations. It attracts companies with its combination of business and technology skills, a congenial and supportive business environment, a government that is pro-business, an internationally experienced workforce and low taxes. Companies locating in Ireland have established European headquarters, research and development facilities, customer support centres, production operations and a range of business administration functions.