Business Irish

Friday 9 December 2016

Murphy eyes Asian economies in first few months in Merrion Street

Published 05/06/2016 | 02:30

Junior finance minister Eoghan Murphy Photo: Douglas O'Connor
Junior finance minister Eoghan Murphy Photo: Douglas O'Connor

New junior finance minister Eoghan Murphy is to focus on promoting Ireland to Asian countries as a European financial services (FS) hub in his first few months in office.

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The push comes in the run up to the European Financial Forum to be held in Dublin Castle in January, and Murphy said there are "a few different projects being worked on".

Murphy has responsibility for financial services in his new role after succeeding the new Health Minister Simon Harris. He told the Sunday Independent that there's "huge potential" to extend Ireland's financial services sector beyond Dublin, while also protecting areas where this country is strong such as aviation finance.

"Right now, as we enter June, Brexit is a key focus. But it's not just about watching and waiting - there's a key piece of work ongoing, in preparing for a leave outcome and the knock-on effects for financial services in Ireland.

"We don't want to see an exit though, so I will be playing my part in the campaign where I can, in Belfast and London," Murphy said.

"Jobs must remain central to everything when it comes to FS and what we're trying to achieve...Simon Harris did a great job in getting an action plan together and creating the IFS Ireland brand. A big part of my work will be going out and selling that."

Murphy said he also wants to focus on improving Ireland's offering for Fintech to create opportunities for major players in that sector.

"I've done some policy work in this area in the past given my interest in tech...plans are being worked up and a policy paper with needed actions is expected soon."

Sunday Indo Business

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