Press Release 27 Nov 2014

2 days - 4 cities - 300 meetings

26th November 2014
The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today (Thursday) commences on a 2-day trade and investment mission to Dublin, Cork, Limerick and Galway jointly organised by Enterprise Ireland and IDA Ireland.

The trade and investment mission is the first of its kind in Ireland, and its objective is to maximise procurement opportunities for Irish companies with Ireland-based multinational companies. As part of the Action Plan for Jobs, Enterprise Ireland and IDA Ireland are working together to deliver more sales for Irish companies out of the global supply chains of multinationals based in Ireland.

Over the course of the two days, more than 300 one-to-one meetings will take place between 150 indigenous Irish companies and 75 multinational companies, giving Irish companies the opportunity to engage directly with procurement teams from multinational companies across a wide range of sectors. Supplier Development programmes and workshops will also take place, while opportunities in Public Procurement will also be highlighted through the Office of Government Procurement. Key sectors targeted are ICT, Web 2.0, Pharma, Biotech, Medical Devices and Engineering.

Speaking ahead of the mission Minister Bruton said: “A key part of the Government’s plans for jobs and growth is ensuring that we derive more benefit, as an economy, from the world-leading multinationals that have located operations in Ireland. A key part of this is ensuring that our Irish companies can get access to more opportunities from the procurement and supply chains of these multinationals. We have put in place a range of measures to deliver on this, and the “trade mission in Ireland” is a new initiative as part of this drive.

“Since taking office I have gone on dozens of trade missions with Irish businesses to countries around the world, seeking to put them in contact with large companies and Government organisations. The thinking behind the “trade mission in Ireland” is that we can put the same model to great use in Ireland. Over the course of the next two days, we will be facilitating more than 300 one-to-one meetings between 150 Irish companies and 75 multinationals based in Ireland. I am convinced that real tangible results, in terms of extra sales and expansion opportunities for Irish companies, can come out of this initiative”.

Julie Sinnamon, CEO, Enterprise Ireland, who is accompanying Minister Bruton on the trade and investment mission added: “This Trade Mission is about helping Irish companies to win more business from foreign-owned multinationals based in Ireland. We hope to drive business flow towards Irish companies, as key suppliers, by leveraging off the existing, strong relationships that IDA Ireland have with these MNCs. Most of the Irish companies participating on this Mission already have a successful track record of servicing international buyers across the globe, so it is appropriate and obvious that they should be able to adequately meet the needs of those MNCs in Ireland. Ultimately this will drive the number of Irish suppliers to the MNC base – helping Irish companies grow and create more jobs in Ireland”.

Martin Shanahan, CEO, IDA Ireland said: “Multinational companies deliver huge economic benefits to Ireland in terms of direct employment, capital spend and developing Ireland’s skill base. As part of this mission, we will be introducing our clients to Irish-based suppliers to see if there are areas where they can further co-operate and do business. Foreign investment has a significant impact on the Irish domestic economy. For every ten jobs created by IDA Ireland clients, there are seven jobs created in the wider economy.
 

For further information contact:

Alan Hobbs, Head of Corporate Communications, Enterprise Ireland – 086-869 9703

Conor Quinn, Press Advisor to Minister Bruton – 087-374 3783

  • With the support of Enterprise Ireland, Irish exporters achieved a record €17.1billion in export sales and created over 18,000 new jobs in 2013.  This represents a net increase of nearly five and a half thousand in the number of people employed and is the largest net increase in a decade.  Such results clearly demonstrate the link between Ireland’s world class product and service providers and job creation here in Ireland.
  • Irish-owned companies supported by Enterprise Ireland are currently employing and sustaining over 400,000 jobs and direct expenditure by them in terms of payroll and purchases of raw materials and services produced in Ireland, account for €20.28 billion expenditure in the Irish economy.  Such a strong performance by these companies has not only played a key role in supporting Ireland’s recovery but their capacity to continuously innovate, develop new products and services and win new export business against the toughest of international competition is a very positive outlook for the years ahead.
  • The IDA, since the commencement of the global recession, has continued to be extremely successful in attracting key investment projects, many investing in Ireland for the first time.  This shows that Ireland’s industrial development policy focused on the key pillars of talent, track record, technology and corporate tax continues to deliver a value proposition that resonates with investors.  To-day IDA clients employ over 166,000 persons, export €121bn, invest €1.3bn in R&D, and spend €21bn on goods, services and payroll.  The latter is the focus of the Global Sourcing initiative.


 

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