IDA Financial Forum 2017

Minister Eoghan Murphy launches the IFS2020 Action Plan for 2017
22.01.17

Press Release 

Monday 23 January 2017

Minister Eoghan Murphy launches the IFS2020 Action Plan for 2017

Today (23-Jan-2017) Eoghan Murphy TD, Minister for International Financial Services, following Government approval, published the IFS2020 Action Plan for 2017.

The IFS2020 Strategy is a five year Strategy for the development of our International Financial Services Sector. The Strategy was first launched in March 2015 under the previous Government by the Taoiseach and the Minister of State for International Financial Services.

The Strategy has a clear vision for Ireland to be the recognised global location of choice for specialist International Financial Services. The Strategy has an ambitious target – to increase direct employment in this sector by 10,000 net new jobs, equivalent to an almost 30% increase in employment across the combined IFS portfolios of IDA Ireland and Enterprise Ireland.

Commenting on the 2017 Action Plan Minister Eoghan Murphy stated:

“This year’s Action Plan places a strong focus on Brexit.  The Strategy’s dynamic and evolving structures provide the toolkit to react to domestic and international challenges and opportunities arising over the next 12 months and beyond.”

Minister Eoghan Murphy will officially launch the 2017 Action Plan at an event in Iveagh House on  Monday evening. This event is one of a number of events taking place in and around Tuesday’s European Financial Forum in Dublin Castle.

More information on the Government Strategy and Action Plan is available at www.finance.gov.ie/ifs2020

ENDS

23 JANUARY 2016                                                                  

Further information from:

David Byrne – Press Officer – pressoffice@finance.gov.ie – 086 026 7978

Note to Editors

Action Plan 2017

The IFS2020 Strategy is an iterative planning and implementation process. While the long-term strategic vision and the medium-term jobs target remain constant, the action-focused strategy is designed to be dynamic and evolving. The Strategy provides for an annual review and implementation of new actions at the end of each year similar to the approach taken in the Action Plan for Jobs. The 2017 Action Plan has been prepared in close consultation with key public sector and industry stakeholders.

The 2017 Action Plan is divided into two sections. Section 1 is a contextual piece outlining the development of the Strategy with a strong focus on Brexit. Section 2 contains the suite of 40 individual measures to be actioned in 2017 under the IFS2020 strategic priorities, with the Department or agency responsible for each measure, and the timeline for delivery.

The 4 IFS2020 strategic priorities in the 2017 Action Plan are:

  1. Promote Ireland as a Location for International Financial Services & world class innovative products & services,
  2. Drive continuous improvement in the operating environment & competitiveness of Ireland’s IFS sector,
  3. Drive Research, Innovation & Entrepreneurship in the IFS sector, with a particular focus on financial technology & governance, risk & compliance,
  4. Develop job-creation opportunities from emerging IFS sub-sectors & new markets.

The 2017 Action Plan contains a number of new actions and measures that reflect the exciting strong potential of Ireland’s IFS sector, while also updating the existing actions in light of our experiences of the 2016 Strategy. Progress on implementation of IFS2020 will continue to be reported quarterly to Government and subsequently published.

17-01-16 IFS2020 Action Plan FINAL for webIFS_Ireland17-01-16 IFS2020 Action Plan FINAL for webIFS_Ireland

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