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New growth plan for financial services launched by Government

New growth plan expects 10,000 new jobs will be created
New growth plan expects 10,000 new jobs will be created

The Government has set out an "ambitious" growth plan for the financial services sector today which it says will see the creation of 10,000 additional jobs in the sector by 2020.

This will bring employment levels in the financial services sector from 35,000 to 45,000. 

It said a significant number of these jobs will be created in the regions, reflecting the increasing national profile of the sector.

Almost 12,000 people are employed in IFS-related roles outside of Dublin including companies in Kerry, Cork, Donegal, Kilkenny, Waterford and Shannon in Co Clare. 

The "IFS2020 - a new Strategy for Ireland's International Financial Services Sector" was launched today by Taoiseach Enda Kenny, Tánaiste Joan Burton and Taoiseach and the Minister of State for International Banking, Simon Harris.

The new plan sets out five strategic priorities on how Ireland can keep its edge in an increasingly competitive international financial services landscape.

It aims to leverage what the Government called the country's "unique" ICT and international financial services cluster so that the country can become a global leader for fintech.

It also wants to increase the country's profile as a location for specialist international financial services by convening a major summit here next year and developing a strategic programme of trade missions.

Under the new plan issues such as competitiveness, innovation, skills and infrastructure will also be enhanced.

"The actions set out in IFS2020 will ensure Ireland is well-placed to take advantage of the job creation opportunities arising in this dynamic sector," commented the Minister of State Simon Harris. 

"Together with a more tightly co-ordinated public sector, Ireland will continue to attract high quality investment and continue to foster more Irish start-ups and SME growth," he added.