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Presentation to the Dublin Regional Authority
Mary BuckleyManager, Regional Development & Property Division
“Dublin - Building on success in the knowledge economy”
Format
• Highlights of FDI in Ireland
• FDI in the Dublin Region
• FDI Competitive Changes
• Strategy for the Dublin Region
• Challenges for the Future
• Vision for Ireland
Highlights of FDI in Ireland
• 1,054 companies employing 129,000 people
• Top pharmaceutical companies
• Exports of €72 billion and Irish economy expenditure of over €18bn
• World’s largest exporter of software
• New digital businesses e.g. Google, eBay
• Some of most advanced technology in the world e.g. Intel, Wyeth and
many more
• Ireland – the most globalised economy” “(AT Kearney / Foreign Policy
magazine) -
Dublin
Ireland’s only Global CentreGlobal in Scale: 1.4 million people
Global in nature of commercial/business/social activities
FDI Progress in Dublin Region
• 455 IDA client companies in Dublin employing almost 46,500 people
• Dublin is winning investments at the high end of the quality spectrum
Recent new Arrivals
Customer Support, Shared Services & Datacentre
European Operations CentreCustomer Support
Centre European Systems & Network Centre
European Headquarters
FDI Competitive Challenges
• Fast paced globally networked economy
• Significant growth in global location options for investors
• Mobile manufacturing investments into Europe are declining
• Services investments of growing importance
• Irish costs and expectations have changed
Singapore: Population 4.2 million
• 2nd place in World Competitiveness Yearbook, 2003 - International Institute for Management Development (IMD)
• Fourth largest foreign exchange trading centre in the world, and a growing Asia-Pacific centre for wealth management
• High-quality logistics services bolstered by the presence of the world’s busiest port with 400 shipping lines to 700 ports worldwide
• R&D spending in the city-state has increased and is now 2.2% of GDP
• There are 90 research scientist and engineers per 1000 people.
Dublin faces stiff competition for FDI
Amsterdam: Population 1,450,000
• Banking, distribution, financial services, information technology
• Amsterdam Airport Schiphol is the fourth largest passenger and cargo airport in Europe, serving more than 39 million passengers in 2004.
• Boeing, Cisco Systems, Dell Computers, Eaton, Hewlett Packard, IDEXX Laboratories, Intel, Mattel, Ofoto, PeopleSoft International, Seagate Technology
Dublin faces stiff competition for FDI
FDI Competitive Challenges
IDA’s Response to change in the FDI marketplace:
• Win new ‘greenfield’ investment. Ireland is competing for more complex, higher value, knowledge-based activities in both manufacturing and services
• Upgrade and deepen the existing base of companies by winning additional functions or greater competencies e.g. R&D, sales and marketing and supply chain management
FDI Competitve Challenges
IDA’s response to change in the FDI marketplace:
• Property development and infrastructure
• Education, skills & research initiatives to strengthen companies
• Networking, partnerships and cluster initiatives
• Established in 1987
• 450 companies in Dublin Centre
• Over 12,000 people are directly employed
• Companies pay €800 million in corporate tax to Irish Government
IFSCIFSC
Ireland’s Market Share of FDI 2001/2003
Share Top Location
Software 28% Ireland
Shared Services Centres 61% Ireland
Pharma & Med Tech* 63% Ireland
ICT * 9% C. Europe 55%
Contact Centres 21% UK 33%
R&D projects 9% UK 25%
* Manufacturing
Source: Buck Consultants (BCI), 2004
What Today’s Investor Seeks
• Human Resources
• World Class Infrastructure:
– access, energy, telecoms
– environment and waste
– property solutions
– business services
– attractive lifestyle and amenities
– clusters of similar and supporting business
• The Right Attitude
IDA’s approach to promoting and
developing the Dublin region:
• Influencing and Partnership role, ensuring the local environment is right for FDI
• Promoting the Dublin region as the location of choice for overseas companies
• Researching and attracting new areas of business to build on the region’s capabilities
Strategy for the Dublin Region
Research and Innovation
• Build academic research capability
• Substantially grow MNC R&D
• Develop “connectedness” between the two
• Working in partnership with SFI, HEA, FAS and 3rd level colleges to bring business partners to CSET’s, research clusters and groups
• Working with MNC’s to bring academic groups together to develop industry focused research initiatives
Strategy for the Dublin Region
The NSS and the NDP
NSS is a 20 year strategy which along with other regions plans to enhance the competitiveness of the Dublin area, so that it can continue to perform at the international level as a driver of National Development (NSS 2002 –2020)
• Dublin must prioritise infra-structure and act cohesively in its delivery
• Much NDP investment is catch-up e.g. national roads network, broadband, public transport
• Key issue going forward – shaping investment post NDP 2006 that delivers benefits for Dublin
• Companies will select those
locations that enable their
business to succeed in
international markets
• Education and retraining to
enable people to work and
participate in the knowledge
economy is important to the
future prosperity of Dublin
• Academic and business
collaboration for innovation
and research is critical
Challenges
A Vision for Ireland
To be a world-leading society as reflected by:
• A knowledge-based economy with world class infrastructure and services
• At the forefront of technological innovation
• In top three competitive economies in world
• People committed to lifetime learning
• Socially inclusive and cohesive nation
• The highest environmental standards