Ireland will be stronger after crisis, says Kenny

THE Taoiseach has told a group of fund managers that Ireland will emerge from its continuing financial crisis, “stronger than ever“, but has said that the so-called ‘green economy’ marks the way forward.

Addressing this year’s Irish Funds Industry Association (IFIA) annual conference in the National Convention Centre, yesterday, Enda Kenny congratulated those working in the fund management sector for helping with the recovery of the Irish economy.

The industry grew by over 30% last year and has contributed to the new Government’s job creation priority by upping its combined job numbers by 5% in the last 12 months.

“I want to assure everyone that Ireland will emerge from this crisis stronger than ever. Exports are soaring, our competitiveness is going up and costs are going down,” Mr Kenny said.

“Our banking plan is dealing with legacy problems and has been welcomed internationally. Ireland is meeting all of its international commitments and will continue to do so,” the Taoiseach told delegates.

Pointing to a general move towards a lower-carbon, more sustainable economic model, Mr Kenny noted that the global clean-tech industry is expected to be worth $650 billion (€448bn) by 2030.

“We want to be at the centre of the financing industry supporting that industry. The Government is actively looking at establishing a ‘green’ financial services centre to provide the types of financial services that will experience significant growth in the coming years.”

Mr Kenny also noted that the Government is open to a number of Islamic finance institutions establishing a presence in Ireland, pointing out that they represent one of the major growth areas in international finance.

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