Partner Focus - IDA Ireland
1. Tell me about your organisation?
The Industrial Development Authority (IDA) Ireland, founded in 1949, is the government agency responsible for the attraction and retention of inward foreign direct investment into Ireland, not only into the major cities but also regional locations. Over the past 70 years, the IDA has partnered with over 1,500 clients, helping them not only establish but expand their Irish operations in order to compete in the international market.
2. Why did your organisation set up in Japan?
Japan is the 3rd largest economy in the world and is a world-leader in manufacturing technology, and research and development. There is an on-going need for Japanese companies who have focused on the domestic Japanese market to date to globalize, and companies in the global market already to expand. Ireland is a staunch member of the European Union, its Single Market and Customs Union and is actively participating in the rolling out of the EU/Japan Economic Partnership Agreement (EPA) which came into effect on 1 February 2019. This will lead for more and more opportunities for Japanese companies in Europe, and Ireland is an ideal location to support them due to our young, well-educated, multi-lingual workforce. Examples of companies already in Ireland include Astellas, Takeda, Alps Alpine and SMBC.
3. What initiatives are you looking forward to in the next year?
Our main goal is to implement IDA’s New Strategy Driving Recovery and Sustainable Growth 2021 – 2024 In Japan.
4. For you, why is involvement in the IJCC important?
The IJCC is a business network for Irish and Japanese companies & professionals. The ability to hold and participate in speaker events, seminars and social events with access to this network is very important. Activities, such as the recent IJCC initiative to distribute a newsletter that includes the latest IDA news, is an example of a great resource we have access to.
Also, as a stakeholder in the European Business Council in Japan, the Chamber utilizes this connection to benefit the IJCC members. An example would be the private seminar regarding the EPA when it had just been signed in 2019, which the IDA could then inform our clients, both existing and potential.
5. How can ties between Ireland and Japan become closer?
There are 2 things that immediately spring to mind. On a micro level, from a cultural perspective, Japanese companies tend to be very methodical in their decision making. Hence the need to meet regularly, face-to-face or otherwise, to provide updates and answer questions is a key activity. On a broader macro level, activities undertaken by Team Ireland (including the Embassy, EI, Bord Bia etc.) constantly raise the profile of Ireland as a whole, which is a very important activity.