Dáil Éireann debate -
Wednesday, 22 Nov 2000

Vol. 526 No. 4

Written Answers. - Enterprise Development.

Austin Deasy

Question:

114 Mr. Deasy asked the Tánaiste and Minister for Enterprise, Trade and Employment the efforts her Department is making to have the relevant State agencies help companies set up joint ventures with countries which have considerable natural resources, but restricted capital to develop these with particular reference to China, Angola and other countries in Asia and Africa. [26812/00]

Minister of State at the Department of Enterprise, Trade and Employment (Mr. T. Kitt)

The enterprise development agencies established under the aegis of my Department have a statutory function to assist enterprises in Ireland that are involved in manufacturing and internationally traded services. Consequently, these agencies are precluded from providing direct capital support for joint ventures or other investments outside Ireland.

However, Enterprise Ireland maintains a net work of overseas offices that help to advise their clients not only on exports but also on investments, joint ventures and other trading relationships and opportunities that might be attractive to Irish business. These offices are located in regions that are strategically important for the long-term development of Irish business and include offices in China and Malaysia.

Furthermore, the Tánaiste and I have led a number of trade missions that have helped to cement business relationships between Ireland and important developing markets for Irish entrepreneurs. While recent trade missions to India and China have helped raise the direct profile of Ireland in terms of international trade and investment, the overseas offices of Enterprise Ireland will continue to provide essential market intelligence to Irish firms wishing to trade, invest or provide risk capital for business projects.

Strengthening trade and business links with key regional economies across the world is vital to the development of Irish business and the Asia-Pacific region has long-term strategic significance for Irish exporters and investors. The Asia strategy group that operates from my Department has set out the future direction of policy to develop earning from Asia, raise awareness of Ireland with key decision makers and to deepen political and business relationships in the region.