Finance & Management News

Finance & Management
Finance & Management News

IDA Ireland announces 2023 mid-year results

IDA Ireland, the inward investment agency of the Irish Government recently reported steady investment growth in the first half of 2023, investments won over the first half of 2023 are tracking in line with our expectations of a positive pipeline.

The outlook for investments over the second half of the year remains strong. IDA Ireland continues to engage with clients across all sectors, who collectively play a crucial role in supporting Irish economic growth.

In the first half of 2023, 139 investments were won, with the potential of 12,072 jobs. 52 were new name or first-time investments, while 67 (48%) of the 139 investments went to regional locations.

Several strategic investments approved and announced in the first half of the year involve large job numbers and significant capital investments.

Outlook

Some improvement in the global economy, however ongoing headwinds including persistently high inflation and downside risks including geopolitical uncertainty.
International investment landscape continues to evolve amid more active industrial policy in strategic sectors and the acceleration of green and digital transitions.
Following mid-term review of IDA’s 2021-24 strategy, IDA will renew its focus on transformational investments in RD&I, digitalization, talent development & sustainability to support enhanced competitiveness of MNC’s Irish operations.
IDA will also adopt a “mission-oriented” focus on strategic growth opportunities in renewable energy and strategic technology clusters, aligned to objectives of the Irish Government’s White Paper on Enterprise.
Provided enabling infrastructure challenges in the economy are urgently addressed, FDI is well placed to continue to drive growth and to support the decarbonization and digitalization of the economy.

Launch of Microcreds.ie Platform to boost upskilling and reskilling in Ireland

Minister for Further and Higher Education, Research, Innovation and Science Simon Harris TD and Minister for Enterprise, Trade and Employment Simon Coveney TD recently launched a new platform to assist people seeking to upskill and reskill.

Over 300 short, flexible and accredited courses are available through the platform from seven institutions to address skills needs of industry.

The MicroCreds project is €12.5 million and aims to reimagine the learner’s education experience through agile, accessible and bite-sized qualifications.

Microcreds.ie is one of 24 projects funder under Human Capital Initiative Pillar 3, which represents an overall investment of approximately €200 million from the National Training Fund over 5 years.

This is a fundamental shift in our approach to education and training. It recognizes that in an ever-changing world, learners, employees and employers need to be able to keep up with the demands of the modern workplace.

€2.3 million in funding to enhance retailers’ online presence

Neale Richmond TD, Minister of State for Business, Employment and Retail at the Department of Enterprise Trade and Employment, recently announced that 98 retailers have been approved for funding under the Online Retail Scheme (ORS), which is administered by Enterprise Ireland. This sees 98 retailers across all regions approved for funding of €2.3 million, with 79% of successful companies based outside of Dublin.

The businesses will receive grants ranging from a minimum of €10,000 to a maximum of €25,000, with nearly half (46%) of all successful applicants benefitting for the first time.

The scheme was open to retailers who already have an online presence and a physical store, to help enhance their online capability and attract new customers.

Since 2018 more than 850 projects from retailers based in Ireland have been approved for €30.7m in funding through the Government’s Online Retail Scheme. Recipients from this latest call are located throughout Ireland and are from a number of Retail sectors, including hardware, pharmacy, clothing and furniture.

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