Govt plan to grow international financial services jobs

The Irish government has unveiled a strategy aimed at expanding the international financial services sector to 70,000 jobs by 2030, with one in four positions located outside of Dublin. Presently, the sector employs around 61,000 people across the country. The Ireland for Finance Strategy outlines 31 actions targeting reduced bureaucracy, enhanced competitiveness as a financial hub, and promotion of innovation.

A key aspect of the plan is a focus on technology and digital transformation, encompassing artificial intelligence, digital assets, and tokenisation. A Digital Assets Industry Group will be established, and existing legislation will be reviewed to support tokenised investment funds.

Tánaiste and Minister for Finance Simon Harris and Minister of State Robert Troy launched the strategy, praising the sector's impressive employment growth over the past decade, which has risen from approximately 35,000 in 2015 to over 60,000 today. Harris emphasized the government's commitment to building on this success and achieving the ambitious target of 70,000 jobs by 2030, with a focus on regional employment. He stressed the importance of adapting to technological advancements and the changing global landscape.

Minister Troy highlighted the strategy's emphasis on leveraging opportunities presented by transformation and new technology, while maintaining a strong and appropriate regulatory framework. Ireland's international financial services sector is now a key component of the economy, employing approximately 61,000 individuals. Both Harris and Troy expressed confidence in the sector's strengths and ambition for continued success.

The strategy, timed ahead of the 40th anniversary of the International Financial Services Centre (IFSC) next year, received positive feedback from the Banking and Payments Federation Ireland (BPFI). BPFI chief executive Brian Hayes acknowledged the government's commitment to supporting Ireland's position as a leading global financial services centre.

He welcomed the strategy's focus on competitiveness, international promotion, talent development, and skills enhancement, stating they are crucial for ensuring Ireland remains well-positioned for future growth.