Dublin is the capital of Ireland and also its largest city. The city is located very close to River Liffey. Dublin has been at the heart of the tremendous economic growth that Ireland has undergone in the past few decades.
For foreign direct investment (FDI), Ireland adopts an “Open for Business” attitude. The government of the country extends support to companies from all over the world. About 1000 companies (including some renowned brands) have chosen Dublin as their base for European operations.
Many companies that moved to Dublin due to the business-conducive environment and low taxes have been very successful. A majority of them have expanded their businesses into other parts of Dublin and Ireland. The management and authorities in Dublin believe that securing FDIs is only the beginning of a lifelong syndicate and partnership.
Traditionally, one of the most important industries of Dublin has been brewing; however, in the last few decades many other diverse industries have come up in the city. Dublin is now home to some of the best companies from the field of pharmaceuticals and information technology.
Another important sector of the Dublin economy is the banking and finance sector. Several international finance firms and global banks have their operations in Dublin. The Irish Enterprise Exchange (IEX), Internet Neutral Exchange (INEX) and Irish Stock Exchange (ISEQ) are all located in the city of Dublin.
The economic boom that the city has seen in the past years has given rise to the construction industry in Dublin. A vast number of people are employed in this industry. Dublin is the main center for transport in Ireland. The services and industrial sector are also some of the biggest employers.
Some sectors that have been earmarked by the government of the city as key sectors are life sciences, digital media, services and ICT (Information Communication Technology).
The many banks and agencies set up by the government (Dublin City Enterprise Board, Dublin Business Innovation Center) help people start their business in the city. The Dublin City Development Board (DCDB) is the main body that looks after the social and economic development of the city. The purpose of this board is to develop a growth strategy for the city that covers all business sectors.
Dublin has an extensive road and rail network and is also a hub for media and telecommunication. Irish people are known all over the world for their adaptive nature, creativity and astute business sense. The city has an abundance of talented and skilled workforces. English is the first language of people and many possess multilingual skills.
The government of Ireland is promoting its economy as a knowledge-based one to attract foreign investors. The country has double taxation agreements with over 50 countries to encourage international business.