Dublin primed to be­come one of Europe’s top cities

Irish Independent - Business Week - - NEWS - MICHAEL COG­LEY

DUBLIN is now in a po­si­tion to be­come one of Europe’s top cities, ac­cord­ing to the lat­est fDi Euro­pean ‘City of the Fu­ture’ rank­ings.

The cap­i­tal rose two places in the list to third with the ‘Fi­nan­cial Times’ mag­a­zine ap­plaud­ing it for its heavy em­pha­sis on soft­ware and IT in­vest­ment. Ac­cord­ing to the rank­ings, the soft­ware and IT sec­tor ac­counted for 45pc of all the city’s for­eign di­rect in­vest­ment be­tween the years of 2010 and 2014. Lon­don topped the poll with Paris se­cond.

Dublin was also ranked among the top three Euro­pean cities for eco­nomic po­ten­tial and for busi­ness friend­li­ness. It also ranked fourth for FDI strat­egy.

The head of en­ter­prise at the Lo­cal En­ter­prise Of­fice in Dublin City, Greg Swift, said the busi­ness cul­ture that has been cre­ated in the city is very pos­i­tive.

“Dublin, the driver of Ire­land, Europe’s fastest-grow­ing econ­omy, is an ideal lo­ca­tion from which to ac­cess the Euro­pean Union’s 500 mil­lion cus­tomers. “In ad­di­tion to be­ing the only English- speak­ing coun­try in the Eu­ro­zone, the busi­ness cli­mate that has been cre­ated is very favourable and this is ev­i­denced by Dublin be­ing the se­cond best Ma­jor Euro­pean City for Busi­ness Friend­li­ness in th­ese rank­ings,” Mr Swift said.

“The strong in­fra­struc­ture for FDI, which ex­ists in the city and re­gion en­hances the ease with which com­pa­nies can es­tab­lish them­selves in Dublin,” Mr Swift said.

Ac­cord­ing to Dublin City Coun­cil, Ire­land’s at­trac­tive tax sys­tem and its govern­ment agen­cies help make it an at­trac­tive lo­ca­tion for FDI.

Dublin is cur­rently home to half of the world’s top banks, 250 global fi­nan­cial in­sti­tu­tions, 10 of the world’s top 20 in­sur­ance com­pa­nies, nine of the world’s top 10 phar­ma­ceu­ti­cal com­pa­nies, and 17 of the world’s top medtech com­pa­nies.

Dublin also plays host to nine of the 10 most im­por­tant tech com­pa­nies in the world. Out­side of na­tional in­cen­tives, a num­ber of ac­tiv­i­ties be­ing en­cour­aged by Dublin City Coun­cil and the Lo­cal En­ter­prise Of­fice are help­ing the city up the rank­ings.

Among the on­go­ing ac­tiv­ity is a six-year plan, the ‘Dublin City Lo­cal Eco­nomic and Com­mu­nity Plan’, which is due to be de­liv­ered by stake­hold­ers with a re­mit in the city.

Out­side of this the Dublin Eco­nomic Mon­i­tor pro­vides quar­terly up­dates on the eco­nomic growth of the city and al­lows for ac­tive mea­sure­ment of the city’s eco­nomic health.

The coun­cil is look­ing to build on the en­cour­ag­ing rise up the ta­ble with the launch of Dublin.ie.

It hopes that the new web­site it says will help at­tract tal­ent and in­vest­ment to the county. The coun­cil says the site will pro­vide all in­for­ma­tion on liv­ing, work­ing and in­vest­ing in Dublin and is due to be launched soon.

Dublin, which has risen two places in FT city rank­ings, is home to nine of the 10 most im­por­tant tech com­pa­nies in the world

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