Yahoo Finance After Brexit, Ireland wants 50,000 employed in international finance
Ireland aims to have 50,000 people directly employed in its international financial services sector by 2025.
A new strategy launched by the Irish finance ministry on Friday seeks to help the country become a “a top-tier global location of choice” for specialist firms.
Though Ireland has long promoted itself as a location for such firms, in the wake of Brexit Ireland has made a noticeable push to encourage them to set up their European bases in the country.
Around 44,000 people are currently employed by the sector.
Over the next six years, Ireland will try to ensure that its government policy, culture and laws will support growth in financial services.
The strategy will also focus on the emerging challenges related to technological developments and the talent pool in the country, as well as on ensuring that the country is recognised as a top-class location for finance.
The strategy, Irish finance minister Paschal Donohoe said, “has been formulated to meet the challenges and opportunities that lie ahead for the international financial services sector.”
“Ireland has within its grasp the opportunity to be a world leader by 2025, as a global location for financial services and as a source of technological and innovation-led solutions.”
The strategy retains the “whole-of-government” approach of the previous strategy, which sees all government departments and stakeholders support the strategy. It will also see the Irish government try and create jobs in the sector outside of Dublin, the country’s capital.
The Irish Central Bank said in February that it had processed more than half of the applications of the more than 100 financial services companies that wanted to either set up or expand their operations in Ireland as a result of Brexit.
Barclays and Bank of America Merrill Lynch are two firms that have already expanded in Dublin.
