Dáil Éireann Debate, Tuesday - 18 May 2021
175. Deputy Fergus O'Dowd asked the Tánaiste and Minister for Enterprise, Trade and Employment if he will address a matter (details supplied) regarding the development of Drogheda, County Louth; and if he will make a statement on the matter. [26041/21]
Amharc ar fhreagraThe digital revolution has the potential to be one of the greatest disruptors in financial services over the next decade particularly in digital finance or ‘fintech’. Ireland is uniquely positioned to benefit from global investment in fintech. This is due in part to our excellent track record in attracting FDI, our entrepreneurial culture, a strong skills base and an established ecosystem that includes both international financial services and technology firms.
In order to capitalise on the opportunities for Fintech development in Ireland including developing Ireland’s policy positions in light of the legislative elements of the new European Commission Digital Finance Package, the Minister of State for Financial Services recently established a new Fintech Working Group as part of the Ireland for Finance 2021 action plan. Officials from my department will be on this Working Group, which will coordinate the approach to fintech across Government to ensure a coordinated and strategic approach to development of the Fintech sector in Ireland, including regional considerations. As part of its work the group will engage with external stakeholders to build a shared understanding of the various policy and market developments in fintech across policymakers, the fintech community and technological innovations.
My Department also oversees the development and implementation of Regional Enterprise Plans (REPs), originally launched in 2019, the purpose of which is to identify growth opportunities and strengthen regional enterprise ecosystems to enable job creation in the regions. REPs complement activities undertaken by the IDA, Enterprise Ireland and the LEOs and the wider range of State Bodies directly involved in supporting enterprise development in the regions.
The North-East Regional Enterprise Plan to 2020 included a strategic objective to ‘Drive a higher level of economic success by building on niche strengths and fostering clustering among enterprises’ which was progressed through establishment of the Fintech Corridor (TFC) in September 2020. There has been continued growth in the cluster which has gained 21 new members and the cluster is supported by a full-time Programme Manager funded by InterTrade Ireland. Current REPs concluded in 2020 and a process to develop new REPs to 2024 has commenced and will identify ongoing growth opportunities and opportunities to further strengthen regional ecosystems.
