Wednesday 13 December 2017

Ministers told of plan to lure firms here

Junior Finance Minister Eoghan Murphy. Photo: Tom Burke
Junior Finance Minister Eoghan Murphy. Photo: Tom Burke Newsdesk Newsdesk

Junior Finance Minister Eoghan Murphy has briefed the Cabinet on plans to lure foreign companies to Ireland post-Brexit.

He briefed ministers on the IFS 2020 strategy on attracting financial services firms here, which has taken on a new impetus with the UK vote to leave the European Union.

There is hope that foreign banks and other financial institutions with offices in London will relocate to Ireland amid concern over their continued access to the single market.

Mr Murphy outlined to his colleagues how opportunities may arise in the financial sector from Brexit.

He is to travel to the Asia Financial Forum in Hong Kong next week.

The Government is engaged in what one source described as a "serious expansion of our links to the Asia Pacific region".

It's understood that Mr Murphy will deliver a speech and has a number of meetings lined up with financial services companies at the event.

It comes after IDA boss Martin Shanahan told how Japanese firms have expressed "a lot of interest" in Ireland in the wake of the Brexit vote.

Irish Independent

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