asked the Minister for Finance the names of those companies which have to date been granted full approval to trade in the financial services area of the Custom House Docks site, Dublin 1; the precise additional employment assured by each of these companies for this activity; and the extent to which there is direct foreign participation in each of these companies.
Written Answers. - Custom House Docks Site.
30.
I have to date given certificates under the relevant statutory provisions to four companies which have already begun to trade and which will be locating in the International Financial Services Centre in the Custom House Docks area as soon as premises become available there. The companies are Gandon Securities Ltd., an Irish company backed by some twenty-five major domestic and foreign institutions which will trade in financial instruments, KB Financial Services (Ireland) Ltd., a subsidiary of Kredietbank NV of Belgium which will engage primarily in assset-financing activites, North Wall Street Investments, a company within the American Chase Manhattan Bank Group, which will provide structured financing facilities to the international market from the Centre and Reflex International Financial Services Ltd., a subsidiary of an Irish computer leasing company which will expand its financial services into the international market from the Centre. Each of the companies will be managed locally.
A further 25 projects have been approved in principle. Since negotiations with the companies in question on the terms of their trading certificates have not yet been finalised, it would be inappropriate to give the House details of these companies at this stage. Public statements wil be made, however, according as the certificates are given.
As regards employment, it would be inappropriate for me to make public the specific conditions, particularly the employment condition, relating to individual companies but I can say that these 29 companies together have given firm undertakings, which will be reflected in the conditions imposed in their certificates, to create a total of 866 additional new jobs.