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Friday, May 20, 2005
Ireland's highly successful inward investment body, IDA Ireland, has announced that it is to open an office in Shanghai, China. The office will be aimed at attracting Chinese multinationals to invest in Ireland.
IDA Ireland was founded in 1949 as the Industrial Development Authority, however it underwent serious restructuring in 1994 when it became the Industrial Development Agency (Ireland). Since 1994 it has attracted several billion euro worth of foreign direct investment to Ireland and has attracted big names such as Google, eBay, Amazon.com, Dell, Microsoft and Intel to set up operations in Ireland.
In 2003 IDA-supported companies spent €14.7 billion in the Irish economy and directly employed several thousand. It is noted that despite attracting over 500 US multinational corporations to Ireland, the IDA have to date only attracted one Chinese company, Huawei Technologies.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
