Low telecom costs and government support for information technology make Ireland a very attractive place for Japanese IT companies to invest in, Irish Deputy Prime Minister Mary Harney said Tuesday.
The Irish government has long been promoting the telecommunications and IT sectors by building broadband networks, introducing competition to the telecom industry and arranging a legal framework promoting IT, Harney said.
As a result, Ireland offers the cheapest telecom rate among European Union member countries for broadband networks, said Harney, who also serves as minister for enterprise, trade and employment. "We believe that made us very attractive to foreign direct investment. We believe that we have more capacity for foreign companies. We want to become an e-business hub in Europe," he said.
Trade and investment between Ireland and Japan for 2000 are estimated at 640 billion yen, making Japan Ireland's seventh largest trading partner, according to the Irish Embassy. However, out of 1,200 foreign companies operating in Ireland, only 32 are Japanese.