New Focus on Jobs
Ever heard of the “bric markets”? No, they have nothing to do with the construction industry collapse or the building bubble. They are, in fact, the fast-growing economies of Brazil, Russia, India and China and according to the Sunday Times, the IDA is to focus on them for green-field investment in a new programme to be announced next month.
One third of the average 130 projects that the IDA attracts each year is green-field and the vast majority of this investment comes from the United States or the EU. IDA chief executive Barry O’Leary hopes to rebalance that strategy, focusing on companies from emerging markets that are seeking to establish a foothold in the technology, life science and financial services sectors in Europe.
The IDA has made substantial inroads into Japan, India and Singapore but it has failed to attract big investment from the giant economies of Russia, Brazil and China.
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