Accurate China Insight: ‘China’s business gateway to Europe’ – Is Ireland’s idea of ‘China Engagement’ self-deluding?

The future success of Ireland's China engagement policy lies in embracing bold initiatives that stand out from the crowd.

The future success of Ireland’s China engagement policy lies in embracing bold initiatives that stand out from the crowd.

In light of the growing realisation, as highlighted in Eddie O’Connor’s (Founder of Mainstream Renewable Energy) opinion piece in the Irish Times, dated 7th October, http://www.irishtimes.com/newspaper/opinion/2011/1007/1224305386447.html that over the next decade China is likely to present more business, educational, and tourism opportunities for Ireland than any other country, is it not the case that we are seriously deluding ourselves into thinking China will provide such economic deliverance unless our policy makers embrace a new radical approach to engaging China?

Bearing in mind every other country in the western world is courting China’s Yuan currency, how about each government department being directed to devise a five-year plan regarding how best to position Ireland as China’s gateway to Europe? A junior minister with a special portfolio covering China would be responsible for monitoring the plan’s implementation.

In the meantime, while waiting for Chinese companies to make the investment decisions we see as so vital to our future, the Government should also consider practical initiatives aimed at making China market entry easier for our small and medium-sized businesses.

For instance, a feasible and cost effective approach for small and medium-sized businesses, involving a sharing of incubation office, administrative, legal, financial and logistical resources, would be the construction of a Government supported IDA-style ‘Irish business park’ on land leased from one of many enthusiastic municipal or provincial governments in China. Such a valuable enterprise could be carried out under the auspices of a public/private partnership, with special tax breaks offered to encourage Irish businesses to establish their offices. There is a prescient: In the mid-1990s Singapore leased land from the Suzhou Government to build what is now a key gateway to China for Singapore businesses: The Suzhou Industrial Park.

The future success of our China engagement policy lies in embracing bold initiatives that stand out from the crowd.

Niall O’Reilly

Accurate Ireland – China Products & Services Sourcing | Business Development Consultancy

Tel: +353 1271 1830 / +86 15257194468

http://www.accuratelimited.com

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Filed under Accurate China Business Services, Accurate China Insight, Accurate Group, China Ireland, Economy

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